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By BRIAN NGUGI
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Money stashed by rich Kenyans in Switzerland banks rose last year and pressure against fi nancial secrecy by Swiss and Kenyan authorities
The total amount went up 4.3 per one hundred to Swiss francs 950 million (CHF) gold about Sh96 billion last year from 911.4 million gold about Sh92.1 billion in 2016.
The new amount can be found in three equivalents of Thika superhighway (50 kilometers each). 19659004] The numbers are contained in a new report by the Swiss National Bank (SNB), the country's central bank. The funds, however, reached a record high of CHF 1.7 trillion (Sh172 trillion) in 2007. These funds include deposits from Kenyans and fi duiary liabilities held in Swiss banks in trust on behalf of Kenyans.
Until it loosened its secrecy, Switzerland was considered among the top dirty-cash havens
The latest Zurich-based SNB data comes as Kenya and Switzerland continues the clamp down on dirty cash.
Last week, Kenya and Switzerland
President of Uhuru Kenyatta and President of the United States of America. Swiss counterpart Alain Berset signed the new deal dubbed Framework for the Return of Assets of Corruption and Crime in Kenya during the last visit to Kenya.
"We have seen, in the last few months, a new intensity in the fight against corruption in Kenya. Quite frankly, my administration has shown that corruption can not, and, will not, be tolerated, "President Kenyatta said.
According to the presidency, the first funds the framework will target include the Anglo Leasing scandal. [19659004] Treasury secretary Henry Rotich has recently been added to the June 2018 deadline.
The fresh data indicates Kenyans holding undisclosed funds in
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