HC wants to know whether govt inquires info from Swiss banks

The High Court (HC) on Thursday wanted to know whether the government and the Anti-Corruption Commission (ACC) have sought any information on funds deposited by Bangladeshis in Swiss banks.

In a suo moto move, A High Court bench comprising Justice Nazrul Islam Talukder and Justice Khizir Hayat sought an explanation from the authorities following a media report published in different media in light of Switzerland Ambassador Nathalie Chuard’s statement that the government had not asked for any specific information on the Swiss bank accounts of its citizens.

The HC bench asked the state counsel Deputy Attorney General AKM Amin Uddin Manik and ACC lawyer Advocate Khurshid Alam Khan to convey this and respond to its order about this issue by next Sunday.

The HC bench also fixed August 14 for passing further order on this matter.

Talking to this correspondent, state counsel DAG Amin Uddin Manik said that he would inquire about this issue from Bangladesh Bank and Bangladesh Financial Intelligence Unit (BFIU). After collecting information, the state lawyer will inform the High Court about the issue, he added.

Speaking to reporters on Wednesday, Chuard said the government has been informed about the necessary steps that have to be taken to access the data on Bangladeshi account holders in Swiss banks. But no request on particular funds had been submitted, she said.

Highlighting Switzerland’s commitment to implementing international standards, she said, “In accordance with these international standards we can also have some specific regulations and agreements with countries to exchange this type of information.”

“We have informed the government of what to do to get information, but we have not been asked for any specific information,” said Chuard.

Every year, Switzerland provides a statistical breakdown of countries from where the money comes to Swiss banks, Chuard said. Bangladesh has received it too.

According to the annual report published by Switzerland’s central bank, deposits by Bangladeshis increased nearly 55 percent to 871.11 million Swiss francs year-on-year in 2021, she said.

Government institutions engaged in tackling corruption and enforcing good governance principles claim most of the money deposited by Bangladeshis in Swiss banks is illegally acquired.

Ministers have also maintained that the government does not have any specific information about money laundering.

However, Finance Minister AHM Mustafa Kamal has recently said he suspected that ‘money laundering under the guise of LCs’ could be a factor behind the country’s record trade deficit.

It may be mentioned that, following a writ petition, the then HC bench of Justice Md Nazrul Islam Talukder and Justice Mohi Uddin Shamim on February 28 last year wanted to know the names, addresses, and current status of the Bangladeshis who deposited laundered money in overseas banks.

The court asked the authorities and the ACC to give details of such individuals and organisations to it by March 30 last year.

But, there is no visible progress made since the High Court order.