Authorities have identified at least 53 apartments, houses, villas, hotel apartments, and office spaces in Dubai that are allegedly linked to several fugitive leaders of Bangladesh’s banned Awami League and their associates. According to sources familiar with the investigation, the properties are located in some of Dubai’s most prestigious areas, including Burj Khalifa, Dubai Marina, Wadi Al Safa, Nad Al Sheba, and the Palm Jumeirah artificial island. Investigators suspect that many of these assets were acquired through laundered funds.

On April 3, 2023, Bangladesh’s Anti-Corruption Commission (ACC) formed a committee to investigate allegations of money laundering involving investments in Dubai under the UAE’s Golden Visa program. The committee was initially headed by ACC Deputy Director Ramprasad Mondal, who was later transferred to Gopalganj. He said the ACC has been corresponding through the Ministry of Foreign Affairs to obtain information from the UAE and has also sought assistance from the U.S.-based Center for Advanced Defense Studies (C4ADS) and the Organized Crime and Corruption Reporting Project (OCCRP).

The investigation gained momentum after OCCRP published information showing that 459 Bangladeshi nationals owned properties in Dubai. Following the disclosure, the High Court directed the ACC, the Bangladesh Financial Intelligence Unit (BFIU), the Criminal Investigation Department (CID), and the National Board of Revenue (NBR) to investigate the matter.

Investigators have reportedly found an apartment in Dubai Marina registered in the name of Bilkis Iqbal, the late mother-in-law of Nafisa Kamal, daughter of former Finance Minister A H M Mustafa Kamal (Lotus Kamal). Bilkis Iqbal died in 2017.

Former Member of Parliament and Premier Bank Chairman HBM Iqbal is alleged to own two apartments in Burj Khalifa, one commercial space, one office space, and a residence in Palm Jumeirah. Investigators claim three different Bangladeshi passports were used to acquire the properties. In November 2024, the Bangladesh Financial Intelligence Unit froze bank accounts belonging to HBM Iqbal, his wife—former actress Anjuman Ara Shilpi—and their children.

Former Brahmanbaria-1 MP Syed A. K. Ekramuzzaman is also reported to own two apartments in Dubai, one in Dubai Marina and another in Palm Jumeirah, with one of the properties reportedly co-owned by his son, Kamruzzaman.

The largest number of properties identified in the investigation are linked to former Land Minister Saifuzzaman Chowdhury Javed. According to investigators, he owns two apartments in Burj Khalifa, 27 apartments in Nad Al Sheba, a residence in Polo Residence, two apartments in Marina Vista Tower, four apartments in Sunrise Bay Tower-1, and a hotel apartment in Royal Bay, Palm Jumeirah. His brother, Anisuzzaman Chowdhury, is also reported to own an apartment in Palm Jumeirah.

The investigation further identified a Burj Khalifa apartment allegedly owned by U.S.-based Jubo League leader Ifzal Ahmed Chowdhury, while Mostafa Amir Mohammad Faisal, chairman of the Zaker Party, is reported to own a hotel apartment in Burj Khalifa.

CID Additional Deputy Inspector General Bachhir Uddin, who heads the Financial Crime Unit, said the investigation is being conducted under High Court directives based on information received from an international organization. He confirmed that a money laundering case has already been filed against former Land Minister Saifuzzaman Chowdhury Javed, while the identities and asset records of other individuals are still being verified.

Investigators have also identified Dubai properties linked to several other Bangladeshis, including award-winning professional Juran Chandra Bhowmik, former University of Chittagong Vice-Chancellor Professor Iftekhar Uddin Chowdhury and his daughter Shehtaz Monasi Khan, Rumana Rishat Zaman, wife of former Titas Gas official Sabber Ahmed Chowdhury, and Monjula Morshed, daughter of former Bangla Academy Director General and Dhaka University linguist Professor Abul Kalam Manzur Morshed.

Supreme Court lawyer Wahiduzzaman Bulbul said purchasing overseas property with legally earned income is not unlawful. However, he noted that recovering assets allegedly acquired with laundered funds would require effective legal cooperation between Bangladesh and the United Arab Emirates.

Dr. Iftekharuzzaman, Executive Director of Transparency International Bangladesh (TIB), said Dubai has become one of the principal destinations for illicit financial flows from Bangladesh. According to him, funds are commonly transferred abroad through trade misinvoicing, fraudulent loans and investments involving shell companies, and the traditional hundi system. He warned that once such assets become integrated into another country’s economy, recovering them is an extremely complex process that often takes many years and yields limited success.