Moroccans Bank Deposits in Switzerland Exceed 1 Billion

Rabat- A recent report released by the Swiss National Bank (SNB) shows that Moroccans’ total deposits in Swiss banks reached $1.112 billion last year, the equivalent of more than ten billion Moroccan dirhams.The report shows that savings of Moroccans in Switzerland are lower than most Arab countries, except war torn countries.Morocco ranks higher than Libya at 642 million Swiss francs, Tunisia at 564 million, Palestine at 286 million, Syria at 170 million, Yemen at 148 million, Iraq at 99 million, Sudan at 39 million, Djibouti at 30 million, Mauritania at 9 million, and Somalia at one million. The same report said that the total wealth saved by Arabs in Swiss banks was over $46 billion, with Gulf countries on top of the list.According to the annual report, Emiratis topped the list of Arabs, with savings of over $14.5 billion, followed by Saudis ($10 billion), Lebanese ($6.1 billion), Kuwaitis ($4.1 billion) and Egyptians ($3.01 billion).At the global level, the UK accounts for 22 per cent of total global funds in Swiss banks, followed by Americans.© Morocco World News. All Rights Reserved. This material may not be published, rewritten or redistributed without permission read more