Swiss parliament approves to share bank account details with Pakistan

[Respect4Respect01]

SWITZERLAND (Dunya News) – In the latest development on bringing back stashed money, the Swiss parliament has approved the automatic exchange of bank data details with 18 additional countries including Pakistan.

According to Swiss media, the Senate followed the House of Representative’s lead and approved a new list of countries for automatic exchange of financial information (AEOI) which will provide the details of bank accounts held by their citizens (or those with a fiscal residence in Switzerland).

These 18 countries include Pakistan, Albania, Azerbaijan, Brunei, Dominica, Ghana, Kazakhstan, Lebanon, Macau, Maldives, Nigeria, Niue, Oman, Peru, Samoa, Saint Martin, Trinidad and Tobago and Vanuatu.

Meanwhile, the Senate has decided to not consider Turkey for this process as it was not yet ready for automatic exchange.

It is to be mentioned here that Switzerland authorities have received financial data from 75 countries so far, however, it has shared the data with 63 states.

The Swiss government has further revealed that it had provided details of around 3.1 million bank accounts held by foreigners to their countries of origin.

http://dunyanews.tv/en/Pakistan/522857-Swiss-parliament-approves-share-bank-account-details-Pakistan

 

[Manidabest]

It is a good move but its too late too but still we have to see what do they have to share wioth Pakistan

 

[Mav3rick]

The day Switzerland, UAE, Panama, British Virgin Island and other Money Laundering safe havens start sharing details of accounts held by 'alleged' criminal citizens of other countries, the same day these countries would commit economic suicide.

 

[313ghazi]

Good, lets hope this news is true.

 

[Ghessan]

had the account holders left anything behind, i wonder. no wonder Swiss banks who for the dear account holders served and removed the evidence and deposits.

 

[PakSword]

had the account holders left anything behind, i wonder. no wonder Swiss banks who for the dear account holders served and removed the evidence and deposits.

They were ready to share with us in 2015-16 as well.. when the officers from State Bank negotiated with them and switzerland said that it would be a two way traffic.. Naturally, that would require approval from Pakistani authorities.. When the officers came back to Pakistan to share the good news with government and to request giving access to Swiss government in the same manner on swiss nationals' accounts in Pakistani banks (of course there might be none but it was a requirement), those officers' life was made hell.. One of them got dismissed from service too.

 

[Ghessan]

They were ready to share with us in 2015-16 as well.. when the officers from State Bank negotiated with them and switzerland said that it would be a two way traffic.. Naturally, that would require approval from Pakistani authorities.. When the officers came back to Pakistan to share the good news with government and to request giving access to Swiss government in the same manner on swiss nationals' accounts in Pakistani banks (of course there might be none but it was a requirement), those officers' life was made hell.. One of them got dismissed from service too.

that is new to me if it was so, thanks anyways for the info.

 

[Maarkhoor]

SWITZERLAND (Dunya News) – In the latest development on bringing back stashed money, the Swiss parliament has approved the automatic exchange of bank data details with 18 additional countries including Pakistan.

According to Swiss media, the Senate followed the House of Representative’s lead and approved a new list of countries for automatic exchange of financial information (AEOI) which will provide the details of bank accounts held by their citizens (or those with a fiscal residence in Switzerland).

These 18 countries include Pakistan, Albania, Azerbaijan, Brunei, Dominica, Ghana, Kazakhstan, Lebanon, Macau, Maldives, Nigeria, Niue, Oman, Peru, Samoa, Saint Martin, Trinidad and Tobago and Vanuatu.

Meanwhile, the Senate has decided to not consider Turkey for this process as it was not yet ready for automatic exchange.

It is to be mentioned here that Switzerland authorities have received financial data from 75 countries so far, however, it has shared the data with 63 states.

The Swiss government has further revealed that it had provided details of around 3.1 million bank accounts held by foreigners to their countries of origin.

http://dunyanews.tv/en/Pakistan/522857-Swiss-parliament-approves-share-bank-account-details-Pakistan

The have policy if any country request the details of specific person / s they said ok we are ready but we will public details of all of your country men who have accounts and that is why no country dare to took their offer.

You may know the reason....

Hamam mien sab nangay hien.....

 

[Syed1.]

Suwar Nawaz and his clan would have already moved the money, but it will be good to know how much they had really looted.

 

[SecularNationalist]

The day Switzerland, UAE, Panama, British Virgin Island and other Money Laundering safe havens start sharing details of accounts held by 'alleged' criminal citizens of other countries, the same day these countries would commit economic suicide.

Damn right pal.
These countries economy is based solely on financial sector and services. To be more precise it's all about money laundering and facilitating investment of black money. Switzerland is the richest per capita country in the world.

 

[Mav3rick]

Damn right pal.
These countries economy is based solely on financial sector and services. To be more precise it's all about money laundering and facilitating investment of black money. Switzerland is the richest per capita country in the world.

I actually envy their Banking sector, if only we too could be a safe haven for international ML.

 

[SecularNationalist]

I actually envy their Banking sector, if only we too could be a safe haven for international ML.

Laundering everyone's black money is not something I envy.

 

[Mav3rick]

Laundering everyone's black money is not something I envy.

Well, for one it is a great source of income and secondly it gives you great and powerful friends, globally.

 

[SecularNationalist]

Well, for one it is a great source of income and secondly it gives you great and powerful friends, globally.

Smuggling heroine and cocaine is also a great source of income ,so we should be doing that as well?
Secondly it equally gives you powerful enemies and bad reputation when governments worldwide crackdown on black money.