The amount of money held by Bangladeshis in Swiss banks increased by approximately 41 percent in a year, according to the latest annual report published by the Swiss National Bank (SNB) on Thursday, according to the latest annual report of Switzerland’s central bank released on Thursday
The report showed that deposits linked to Bangladeshi individuals and institutions reached 834.1 million Swiss francs in 2025, up from 590 million Swiss francs in 2024. Based on the current exchange rate of around Tk 152 per Swiss franc, the total deposits amounted to approximately Tk 126.78 billion by the end of 2025.
According to the SNB data, the 2025 figure represents the highest level of Bangladeshi deposits in Swiss banks since 2021 and the second-highest amount recorded over the past decade.
The deposits include funds held by Bangladeshi individuals, institutions, and banks that maintain accounts in Switzerland through legal channels. In addition, Bangladeshis residing abroad may also keep money in branches of Swiss banks located in different countries. The SNB categorizes such holdings as liabilities associated with the depositor's country of origin.
Financial analysts note that these figures do not necessarily indicate illicit financial flows, as not all funds deposited in Swiss banks are the result of money laundering.
The report also highlighted significant fluctuations in recent years. Bangladeshi deposits in Swiss banks fell sharply in 2022 and 2023, dropping to 55 million Swiss francs and 25 million Swiss francs, respectively, before rebounding strongly in 2024 and 2025.
Commenting on the latest data, economist Moinul Islam, a former professor at the Department of Economics at Chittagong University, said the increase raises concerns about the effectiveness of efforts to curb capital flight from Bangladesh.
“It was expected that money laundering from the country would decline following the political changes of August 2024. However, the latest Swiss banking figures suggest otherwise,” he said, adding that illicit financial outflows may be taking place through multiple destinations beyond Switzerland.
Islam stressed the need for stronger government initiatives to prevent money laundering and recover assets transferred abroad. “Without effective measures, the problem is unlikely to be resolved,” he added.
Following the student-led mass uprising in 2024, several former ministers, lawmakers, and business figures associated with the previous government reportedly left the country. Authorities subsequently seized assets linked to some of them. Analysts believe that some individuals may have transferred funds across international jurisdictions during this period.
A white paper prepared during the interim administration also alleged that substantial amounts of money were laundered out of Bangladesh during the previous government's tenure. Experts say some of those funds could have found their way into Swiss financial institutions through various channels.
Swiss banks have historically been viewed as a preferred destination for hidden wealth because of the country's strict banking secrecy laws. However, Switzerland has significantly strengthened transparency measures in recent years and now cooperates with international information-sharing frameworks aimed at combating money laundering and tax evasion.
As a result, experts suggest that individuals seeking to conceal assets increasingly use alternative jurisdictions and business arrangements rather than relying solely on Swiss banks.