Islamabad: The Swiss Parliament has given its sanction to an exchange of bank details regarding the wealth stashed in Swiss bank accounts with Pakistan and 17 other countries, according to a new source. This data transfer is expected to be initiated in 2021.
The lead, in this regard, was first taken by the Swiss House of Representatives; responding to which the Swiss Senate gave its approval for the automatic exchange of financial information with a total of 19 countries. These states include the Maldives, Azerbaijan, Dominica, Brunei, Albania, Kazakhstan, Lebanon, Nigeria, Oman, Macau, Samoa, Tobago and Trinidad, Vanuatu, Niue, Peru, Saint Martin, Ghana, and Pakistan.
In return for extending this favour, Switzerland is expected to get access to information regarding the bank accounts details of Swiss citizens resident in the above-mentioned states.
