Bangladeshi deposits in Swiss banks surge 42%, fueling capital flight fears

Deposits held by Bangladeshis in Swiss banks saw a dramatic 42% increase in 2025, reaching 834.16 million Swiss francs (approximately Tk 12,751 crore). This surge has reignited concerns over capital flight and the effectiveness of the government's measures to prevent illicit financial flows abroad.

The latest figures follow a substantial rise in 2024, when Bangladeshi-linked funds in Swiss banks climbed to 589.5 million Swiss francs, their highest level in three years. Analysts point to potential outflows driven by individuals associated with the previous political regime, seeking to secure assets offshore. The Swiss National Bank's data, which tracks funds held by Bangladeshi nationals, residents, or corporate entities, does not specify the nature or purpose of these deposits.

Historically, Swiss banks have been linked to financial secrecy, making them a focal point for concerns regarding money laundering. Despite recent transparency reforms and increased international cooperation, scrutiny persists over the handling of potentially illicit funds. Between 2015 and 2020, Bangladeshi deposits typically ranged between 480 million and 660 million francs, with a notable peak of 871 million francs in 2021 amid global attention on illicit financial flows.

This latest spike is expected to intensify scrutiny, particularly as Bangladesh's interim government has prioritized financial transparency and asset recovery. A white paper published in December last year estimated that $234 billion was siphoned off from Bangladesh between 2009 and 2023, primarily through hubs like the UAE, UK, and US, as well as various tax havens. While it is difficult to definitively attribute the rise in deposits solely to laundered money, the figures underscore the ongoing challenges in tracking and controlling cross-border financial movements.

“

Therefore, it cannot be specifically stated that the rise in deposits is due to an increase in laundered money. It is quite difficult to make such a claim, but Bangladesh Bank could request information from Swiss banks if it wished.