Dubai Connections: Unveiling Bangladesh’s Hidden Wealth
Over the last few months, The Daily Star, a leading Bangladeshi newspaper, has investigated Bangladeshi nationals owning property in Dubai. Published earlier this month, the article relied on data from the Centre for Advanced Defence Studies (C4ADS), a Washington, D.C.-based nonprofit specializing in identifying illicit networks and illegal activity.
Using this data, The Daily Star reported that over 900 properties are registered in Dubai under the names of 461 Bangladeshi nationals. Based on property values, the paper estimated the collective worth of these holdings to be around $500 million. While the figures might seem staggering, the investigation’s limited scope raises serious questions about its credibility and intent, especially regarding the omissions of several influential figures.
At first glance, The Daily Star’s report comes across as robust investigative journalism, complete with maps, infographics, and profiles that one expects from a major international outlet. However, a closer examination reveals that much of the data originates from C4ADS reports published in 2020 and 2022. This begs the question: why is The Daily Star repackaging years-old information in early 2025? Furthermore, of the 461 property owners identified, why did the investigation highlight only 12?
Following the ouster of Sheikh Hasina in August 2024, the interim government has pursued an ongoing process of retribution directed at members of the previous government and their associates. In this light, The Daily Star’s work can be seen to play helpfully into the interim government’s narrative. In The Daily Star article, they name and shame 12 individuals who own property in Dubai. These include a former land minister, a former police inspector’s wife, former Awami and BNP members as well as several business magnates. Each individual descriptor is replete with mugshot-esq photos, details of pending investigations, and photos of their luxury residence.
Yet, the names omitted from the list are perhaps most telling—none more so than Zaraif Ayaat Hossain.
Hossain is the son of Simeen Rahman. Rahman owns both The Daily Star and Prothom Alo and reportedly owns a flat on the Jumeirah Palm. The Jumeirah Palm is the artificial archipelago of luxury flats and resorts now synonymous with Dubai’s elite. Hossain’s house alone is worth $1.5 million, yet, he has been protected from criticism. Simeen has been accused of forging her siblings’ signatures to embezzle funds. Her brother’s sudden death—just ten days after hiring legal representation in the matter—prompted her younger sister to file a murder case against her. Despite these allegations and her alleged involvement in embezzlement under both the Awami League and the interim government, neither Rahman nor her son features in The Daily Star’s investigation.
This glaring omission undermines Bangladesh’s ongoing efforts to curb capital flight. Ahsan Mansur, governor of the Bank of Bangladesh, has identified stemming the outflow of wealth as a top priority. The Daily Star’s selective reporting not only contradicts these efforts but also highlights a deeper hypocrisy within Bangladesh’s political and economic elite. While old alliances unravel, new ones—often cemented by mutual interests—are quietly taking shape, casting doubt on the interim government’s claims of reform.
The Bangladesh Financial Intelligence Unit’s (BFIU) recent actions add to this troubling picture. Under the interim government, the BFIU has demanded personal and financial information from journalists and their families, a move widely perceived as intimidation. While The Daily Star’s so-called investigative journalism garners accolades, other journalists and their family members are being silenced. Such actions threaten press freedom and expose the vulnerability of independent media in a country where power dynamics often dictate whose stories are told—and whose are buried.
As Bangladesh grapples with political instability and economic reform, The Daily Star’s Dubai investigation is a stark reminder of the challenges facing journalism in the region. The line between uncovering corruption and enabling political agendas is perilously thin, and the omissions, in this case, speak louder than the revelations. If true accountability is the goal, it must apply to everyone—not just a select few.