Sri Lankans had Swiss francs (CHF) 307 million in Swiss banks last year, according to the latest figures compiled by the Swiss National Bank as on 2016-end.
The total money held in Swiss banks by foreign clients from across the world, incidentally rose by a small margin from 1.41 trillion Swiss francs (CHF) to CHF 1.42 trillion during 2016.
India has dropped down to the 88th position in terms of money parked by its citizens with Swiss banks, while the United Kingdon remains on top.
India was also the lowest ranked among the BRICS nations — Russia was ranked 19th (CHF 15.6 billion), China 25th (CHF 9.6 billion), Brazil 52nd (CHF 2.7 billion) and South Africa 61st (CHF 2.2 billion).
Among these five, only China has moved up. Others ranked higher than India included Mauritius, Iran, Morocco, Kenya, Nigeria, Kazakhstan, Ukraine, Angola, the Philippines, Malaysia, Indonesia, Canada and Mexico.
A number of offshore financial centres are also ranked higher including Cayman Islands, Panama, Cyprus, Marshall Islands, Bermuda, Seychelles, Isle of Man and Gibraltar.
Among India’s neighbouring countries, Bangladesh was ranked 89th (CHF 667.5 million), while Nepal was 150th (CHF 312 million), Sri Lanka was 151st (CHF 307 million) and Bhutan was way below at 282nd (about half a million Swiss francs).
The total money belonging to the developed countries fell to CHF 824 billion, while those from developing nations actually rose marginally to CHF 208 million.
The money from developing economies in Asia-Pacific region rose to CHF 50 billion. (Colombo Gazette)