Introduction
Switzerland is one of the most important financial centers in the world. Its banking system is much higher than the volume required for domestic transactions. There are two interconnected banking system: the state system, including the Swiss National Bank and the banks of the cantons, and the system of private banks. Swiss National Bank, which started its operations in 1907, is the only financial institution that issues the national currency. The basic monetary unit, the Swiss franc, is one of the most stable currencies in the world. The National Bank is controlled by the federal government and has a Continue reading...