Download - H.E Ambassador Fabrice Filliez Ambassador State Secretariat for international financial matters
H.E Ambassador Fabrice FilliezAmbassador
State Secretariat for international financial matters
Federal Department of Finance FDF State Secretariat for International Financial Matters SIF
Switzerland – a competitive and stable centre of excellence for international banking
Swiss Arab Financial ForumGeneva, April 3, 2014
Fabrice FilliezAmbassador, State Secretariat for international financial matters
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Federal Department of Finance FDF State Secretariat for International Financial Matters SIF
Overview
• Swiss Financial Centre, some figures• Trade Switzerland – Arab countries• Financial market policy• International challenges:
- Business taxation- Automatic information exchange
• Conclusion
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Federal Department of Finance FDF State Secretariat for International Financial Matters SIF
Financial Centre Switzerland
300banks, of which
132 foreign banks
210‘000employees
10%added value as a
percentage of GDP
No 1in world-wide
cross boarder private banking
internationalknow how
sound public finances political stabilitystrong currency
100% 101%
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Federal Department of Finance FDF State Secretariat for International Financial Matters SIF
Financial Centre Geneva
36‘000employees in thefinancial sector
No.1worldwide in the
finance of commodity trading
3200financial
intermediaries
No.8of financial sectors
worldwide
123banks
931multilateral companies
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Federal Department of Finance FDF State Secretariat for International Financial Matters SIF
Trade Switzerland - Arabian countries
14Swiss banks only
in Dubai
11Middle East banks in
Switzerland (increasing number)
2xtrade between Arab
countries and Switzerland doubled
since 2005
share of Arab countries on total
trade, increased from 2,2 to 4%
4,0%
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Federal Department of Finance FDF State Secretariat for International Financial Matters SIF
Financial market policy
- integrity
- stability
- quality
Market policy aims for...
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Federal Department of Finance FDF State Secretariat for International Financial Matters SIF
Business taxationInternational challenges:
- tax competition
- integral approach
- equal treatment
Switzerland calls for…
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Federal Department of Finance FDF State Secretariat for International Financial Matters SIF
Automatic exchange of informationInternational challenges:
- tax competition
- data protection
- principle of speciality
Standard must contain…
- reciprocity
- identification of beneficial owner
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Federal Department of Finance FDF State Secretariat for International Financial Matters SIF
Conclusion
Switzerland's framework conditions for its financial centre pursue three objectives:
Switzerland offers a stable, competitive and friendly environment for international businesses to grow and invest
top quality
long-term stability
high level of integrity (fight against financial and tax crime)