ACC Seeks UAE Data on Dubai Assets of 73 Bangladeshis

The Anti-Corruption Commission (ACC) is investigating allegations that 73 Bangladeshis, including former land minister Saifuzzaman Chowdhury, former Premier Bank chairman HBM Iqbal and former Padma Bank chairman Chowdhury Nafis Sarafat, acquired assets in Dubai through money laundering.

The commission is preparing to seek information and documents from the United Arab Emirates (UAE) government as part of the investigation.

The ACC plans to send a Mutual Legal Assistance Request (MLAR) to the UAE under the United Nations Convention against Corruption (UNCAC), through which member states exchange information and documents to assist investigations into corruption and financial crimes.

The investigation has found information suggesting that some of the individuals under scrutiny purchased flats and houses in Dubai Marina and Palm Jumeirah, two of Dubai’s high-end areas. Some are also reported to have obtained UAE Golden Visas.

ACC Deputy Director (Public Relations) Aktarul Islam said the investigation team recently wrote to the Bangladesh Financial Intelligence Unit (BFIU) seeking information about the allegations of acquiring assets in Dubai through money laundering. The commission has also collected information from various government agencies.

The ACC has obtained information on the 73 individuals from the Election Commission, National Board of Revenue and Department of Immigration and Passports. The information is being reviewed as part of the ongoing investigation.

A special ACC team led by Deputy Director Alamgir Hossain, with Assistant Director Ashikur Rahman as a member, is conducting the investigation.

The individuals under investigation include Saifuzzaman Chowdhury, HBM Iqbal, Chowdhury Nafis Sarafat and several other businessmen and individuals. The ACC has not disclosed their professional identities, citing the ongoing nature of the investigation.

Investigation Into 459 Bangladeshis

The broader investigation into Bangladeshis’ assets in Dubai stems from a Supreme Court directive issued on January 16, 2023, instructing the ACC and other relevant authorities to investigate allegations concerning assets owned by 459 Bangladeshis in Dubai.

According to data cited in previous research by the Center for Advanced Defense Studies (C4ADS) and the EU Tax Observatory, 459 Bangladeshis owned 972 properties in Dubai as of 2020, with a registered value of around $313 million.

The research identified properties in areas including Dubai Marina and Palm Jumeirah, as well as villas and buildings allegedly owned by Bangladeshis.

The ACC has been examining the ownership, source of funds and other financial details linked to the properties as part of its wider investigation.