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)