UAE Ambassador seeks expedited asset seizure appeal in Bangladesh

The United Arab Emirates (UAE) ambassador to Bangladesh, Abdullah Ali Al Hamudi, met with Attorney General Ruhul Kuddus Kazal to request the expedited resolution of a legal appeal regarding seized assets in Bangladesh.

The case involves Dr. Khatir Massad, the former CEO of the Ras Al Khaimah Investment Authority (RAKIA) from 2005 to 2012. Massad is accused of embezzling over $1 billion in public funds during his tenure, a portion of which was allegedly laundered and invested in various companies within Bangladesh.

Following a mutual legal assistance treaty request in 2018, Bangladeshi authorities moved to freeze and forfeit the shares related to these investments. While a court previously ordered the seizure, Massad has filed an appeal in the High Court challenging the legality of the order. The UAE ambassador requested cooperation to ensure the appeal is heard and settled promptly. In response, the Attorney General assured the ambassador that the government would take swift steps to resolve the matter in the interest of national cooperation.