Why Do Many Indonesian Citizens Save Money In Switzerland?

Illustration of Swiss bank (Unsplash)

YOGYAKARTA Did you know that Switzerland is widely referred by people from various countries to save their money. In fact, many Indonesian citizens (WNI) do the same. Then, why do many Indonesian citizens save money in Switzerland?

It should be noted that many Indonesian citizens keep their money in Swiss banks. This was known when the Government held a tax amnesty program. Even President Jokowi himself once stated that the amount of money deposited in Swiss owned by Indonesian citizens if accumulated reached Rp. 11,000 trillion.

"The data is in my pocket. I have memorized one, two are still stored there, still. Wong's name is in my pocket," said President Joko Widodo (Jokowi), quoted from the official website of the Cabinet Secretariat.

Quoted from the International Wealth website, banks in Switzerland are very popular, especially among business people from various countries in the world. There are two reasons that underlie this popularity, namely because of security and the two information related to bank account holders are very well protected.

Behind the reasons for the popularity of banks in Switzerland, some have made rich people from various countries prefer to open banks in Swsiss because in general the country provides a certain advantage, namely as follows.

Banking in Switzerland prioritizes the privacy of its customers. The Swiss law strictly prohibits bank officials from disclosing information related to their customers or institutions that do not have the authority. If bank officials continue to do so, they will be fired until there is a possibility of being imprisoned. In addition, banks will also face considerable fines.

Thus, information about customers will be completely protected efficiently in the country. However, it should be noted that official government organizations still have access to find out information related to their customers.

It can be said that Swiss banks will not go bankrupt. If that happens, other Swiss banks will step in and take over all the responsibilities of banks experiencing bankruptcy.

Franc Switzerland as the country's currency is one of the most stable eyes in the world. In addition, the country's economy is also very strong.

The security offered by Switzerland has made many rich people save their money in Swiss banks, including criminals. Although the Swiss government claims that they enforce a rule that can limit money laundering, many of these claims are only rhetoric because money laundering is very difficult to detect.

That's information related to why many Indonesian citizens save money in Switzerland. Visit VOI.ID to get other interesting information.