Income Falls as Cash Reserves Skyrocket for Ekramuzzaman

Recent electoral filings have exposed the burgeoning international wealth of Syed AK Ekramuzzaman, the Independent Member of Parliament for Brahmanbaria-1, whose portfolio now includes high-end residences in Dubai’s most prestigious landmarks. The 69-year-old businessman, who serves as the Managing Director of RAK Ceramics, disclosed in his 13th General Election affidavit that he holds ownership of flats in the Burj Khalifa, Palm Jumeirah, and Dubai Marina. These luxury assets were notably absent from his earlier declarations during the 11th and 12th parliamentary elections, marking a significant update to his documented global footprint.

The financial data reveals a series of sharp contradictions in the MP’s economic standing over the past seven years. While his annual income has seen a significant downturn—declining from nearly 54 crore BDT during the previous election cycle to 4.46 crore BDT—his liquid cash has surged by an astonishing 27 times, reaching 21.69 crore BDT. In parallel with this growth in liquid assets, his institutional liabilities have expanded by approximately 22 times. To sustain his business operations, he has secured loans totaling 2,921 crore BDT from a conglomerate of 35 banks and seven financial institutions.

Mr Ekramuzzaman’s political journey has been equally volatile. Once a senior advisor to the BNP Chairperson, he was eventually expelled from the party and transitioned to the Awami League in 2024. Although he was appointed as an advisor to the Brahmanbaria District Awami League, he asserts that he submitted his resignation immediately following the announcement. Since the July mass uprising, the legislator has also been named in seven different criminal cases, adding legal pressure to his complex business and political life.

Domestically, his wealth remains vast and varied. His immovable property includes over 2,000 decimals of agricultural land and 758 decimals of non-agricultural land spread across Nasirnagar, Mymensingh, and Habiganj. His urban real estate includes significant buildings in Dhaka, Chattogram, and Sylhet valued at over 46 crore BDT, as well as a 10-crore BDT residence in Uttara. Furthermore, his wife and sons hold substantial assets of their own, including shares and savings certificates, contributing to a total family wealth that has seen his own movable assets alone rise to 421.92 crore BDT.

Details of Disclosed Real Estate and Liabilities