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Switzerland is not only famous for chocolates and watchmaking.In addition, the Swiss franc is one of the most stable currencies in the world.During World War II, the German Nazis deposited much of the country's wealth, especially money and gold taken from Jews in Switzerland.Foreigners who live in volatile and unstable regions also tend to keep money in safe Swiss banks instead of their own.In the past, not only the rich, but also authoritarian and dictatorial regimes had their money in Swiss banks.On the one hand, the country has a very stable and prosperous economy, and one of the highest per capita incomes in the world.Banking in Switzerland dates back to the eighteenth century.
Switzerland is not only famous for chocolates and watchmaking. It is also famous for its unique banking and financial system. Banks play an important role in the Swiss economy. Swiss banks have been considered the most secretive in the world for centuries. About a third of all money outside a person’s country - hundreds of billions of dollars - is deposited in Swiss banks.
Banking in Switzerland dates back to the eighteenth century. In the past, not only the rich, but also authoritarian and dictatorial regimes had their money in Swiss banks. Foreigners who live in volatile and unstable regions also tend to keep money in safe Swiss banks instead of their own. During World War II, the German Nazis deposited much of the country's wealth, especially money and gold taken from Jews in Switzerland.
Switzerland has two large banks - UBS and Credit Suisse. Private banks also have a century-old tradition in the Alpine country. Currently about 130,000 people work in the banking sector. Major banks with branches abroad employ thousands.
There are many reasons why Switzerland is so popular as a bank's safe haven. On the one hand, the country has a very stable and prosperous economy, and one of the highest per capita incomes in the world. It was neutral for many centuries, especially during the two world wars. In addition, the Swiss franc is one of the most stable currencies in the world.
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