Swiss National Bank (SNB) data has revealed the large amounts of money stashed by Kenyan tycoons in Switzerland.
Data by the bank recorded that the amount deposited by Kenyans by end of 2017 stood at Ksh96 billion (950 million Swiss Francs).
These funds include deposits and fiduciary liabilities.
[caption caption="President Uhuru Kenyatta and his Swiss counterpart Alain Berset"]
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Fiduciary liabilities is the money held by Swiss Banks in trust on behalf of Kenyans.
The amount rose by 4.3 percent from Ksh 92.4 billion (911 million Swiss Francs) in 2016.
The increase was experienced even as pressure against financial secrecy by Kenyan and Swiss authorities mounted.
At one point, the deposits reached a record high of Ksh172 billion in 2007.
Last week, President Uhuru Kenyatta and his Swiss counterpart Alain Berset signed a pact that will see the reclamation of funds and properties acquired through graft and stashed abroad.
The deal dubbed Framework for the Return of Assets from Corruption and Crime in Kenya will first target cash linked to the Anglo Leasing scandal.
Treasury Cabinet Secretary Henry Rotich announced that Kenyans with wealth abroad have one year to repatriate it.
[caption caption="Treasury CS Henry Rotich"]
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