# Hidden wealth in Dubai; 394 Bangladeshi in the list.

> Dubai, a city of towering skyscrapers and opulent lifestyles in the UAE, has transformed from a barren desert to a haven for hidden wealth from around the world. The city's lenient financial regulations allow individual…

Published: 2024-06-25 · Desk: News · Source: Dhaka Post

Dubai, a city of towering skyscrapers and opulent lifestyles in the UAE, has transformed from a barren desert to a haven for hidden wealth from around the world. The city's lenient financial regulations allow individuals to move money through banks or private planes without scrutiny, attracting businessmen, politicians, sanctioned individuals, money launderers, and criminals. A global investigative journalism project, 'Dubai Unlocked', revealed this concealed wealth, involving 74 journalists from 58 countries over six months. Led by the Organized Crime and Corruption Reporting Project (OCCRP) and Norwegian outlet eTwentyfour, the investigation unveiled how dubious figures have safely acquired assets in Dubai.

The report, based on leaked data from Dubai's government land department and real estate companies, found that by 2020-2022, foreign-owned assets in Dubai exceeded $160 billion. Indians top the list, with 29,700 citizens owning properties worth over $17 billion. Pakistanis follow with 23,000 properties owned by 17,000 individuals. The leaked data named prominent figures like Mukesh Ambani and Shah Rukh Khan from India, and Asif Ali Zardari and Nawaz Sharif’s son from Pakistan. Additionally, 394 Bangladeshis own 641 properties worth over $225 million. The OCCRP has not released detailed information on Bangladeshi assets.

Original reporting: https://www.dhakapost.com/amp/international/279349?fbclid=IwZXh0bgNhZW0CMTAAAR3Hwrd24CaDSczdkM8NOpkWbhUUr8HfAZAITiV_eAhepJVw1Glz5hJ3vgo_aem_AYFj3MgUPZ0JeufRUPOOSdDyyLWF_wOOu1jMJqbZl99CJMwrteK-kJbB_dxxfs7NKKpvsvx_QeYIrnjCnaq1zS8g&mibextid=xfxF2i
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