Pakistan beat India in stashing away funds

Zurich: Defying a global trend, money kept by Pakistanis in Swiss banks has risen by over 16 per cent to 1.5 billion francs (over Rs 10,000 crore), which is more than what Indians have in Swiss banks.

As per the latest data released by Switzerland's central bank SNB, the total funds linked to Pakistan in Swiss banks stood at CHF 1,513 million at the end of 2015, up nearly 16 per cent from CHF 1,301 billion a year ago. This included funds amounting to CHF 1,477 million held directly by Pakistani nationals and entities and CHF 36 million through fiduciaries or wealth managers. This is the second straight year of rise in Pakistan- linked funds in Switzerland-based banks.