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H.E Ambassador Fabrice Filliez Ambassador State Secretariat for international financial matters. Switzerland – a competitive and stable centre of excellence for international banking. Swiss Arab Financial Forum Geneva, April 3, 2014

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H.E Ambassador FabriceFilliezAmbassador

State Secretariat for international financial matters


Switzerland – a competitive and stable centre of excellence for international banking

Swiss Arab Financial Forum

Geneva, April 3, 2014

Fabrice FilliezAmbassador, State Secretariat for international financial matters


Overview
Overview

  • Swiss Financial Centre, some figures

  • Trade Switzerland – Arab countries

  • Financial market policy

  • International challenges:

    - Business taxation

    - Automatic information exchange

  • Conclusion


Financial centre switzerland
Financial Centre Switzerland

300

10%

210‘000

banks, of which132 foreign banks

added value as apercentage of GDP

employees

No 1

100%

101%

sound public finances political stabilitystrong currency

in world-widecross boarder private banking

internationalknow how


Financial centre geneva
Financial Centre Geneva

123

No.8

36‘000

of financial sectors worldwide

employees in thefinancial sector

banks

No.1

931

3200

financial intermediaries

worldwide in the finance of commodity trading

multilateral companies


Trade switzerland arabian countries
Trade Switzerland - Arabian countries

11

14

Swiss banks onlyin Dubai

Middle East banks in Switzerland (increasing number)

2x

4,0%

trade between Arab countries and Switzerland doubled since 2005

share of Arab countries on total trade, increased from 2,2 to 4%


Financial market policy
Financial market policy

Market policy aims for...

- quality

- stability

- integrity


Business taxation

International challenges:

Business taxation

Switzerland calls for…

- equal treatment

- integral approach

- tax competition


Automatic exchange of information

International challenges:

Automatic exchange of information

Standard must contain…

- principle of speciality

- data protection

- reciprocity

- tax competition

- identification of beneficial owner


Conclusion
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)


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