Banking Jobs in Switzerland

The banking sector of Switzerland is one of the most flourished sector of the country but of the continent also. Banking jobs in Switzerland is a common profession as the sector employs nearly four per cent of the country's population and generate nearly nine per cent of the GDP. In the year 1934 the Banking Law was passed by the Swiss Parliament which codified the secrecy rules and criminalize violation of it. On 1 January, 1995 the Parliament enacted and passed a new Banking Law permitting foreign banks to open their branches, subsidiaries and representative offices without Federal Banking Commission (FBC)'s approval. A prior agreement between Switzerland and foreign government is required for that. This has attracted many foreign banks to open their branches and subsidiaries in Switzerland . At present Switzerland is an attractive location for foreign banks. The abundance of national and foreign banks are not only helping in the development of the economy but are also facilitating masses in getting banking jobs in Switzerland.