Canada Immigration Visas

In the midst of the global financial crisis, it has been revealed that Canada has the most secure banking system in the world.

A report conducted by the World Economic Forum (WEF) has placed Canada at the top of the pile, just above the likes of Sweden, Luxembourg and Australia.

The statistics have been compiled based on information provided by 12,000 corporate executives throughout the world. A system of rating the banking systems of individual countries was conducted by participants answering a number of questions and rating the banks on a scale of one to seven, one being in need of government support seven being entirely healthy.

Canada’s baking system, lead by Royal bank, CIBC, Scotiabank, TD Bank, Bank of Montreal and National Bank, received the highest rank in the world, scoring 6.8 on the rating scale.

The top 10 safest countries for banking are currently as follows:

Canada (6.8)
Sweden (6.7)
Luxembourg (6.7)
Australia (6.7)
Denmark (6.7)
Netherlands (6.7)
Belgium (6.6)
New Zealand (6.6)
Ireland (6.6)
Malta (6.6)

Conservative Leader, Michael Harper, used the findings to illustrate the strength of Canadian banks, citing the fact that they are in no need of government help whatsoever.

“There is no question, no possibility of bailing out the banks. The banks aren’t seeking to be bailed out; the government won’t be bailing them out. That isn’t going to happen” he said.