Construction of A Mixed-Use Twin Tower and a Convention Center (BISEW)
The Islamic Development Bank-Bangladesh Islamic Solidarity Educational Wakf (IsDB-BISEW) was established in 1987 following an agreement between the Islamic Development Bank and the Government of Bangladesh. It commenced operations in 1997 and began to serve its educational mandate in 2003.
Based on this agreement, a Waqf complex was constructed in Dhaka, Bangladesh, named IsDB Bhaban. It is comprised of a 20-storey mixed-use commercial building and a 4-storey computer shopping complex on a 2-acre plot of land donated by the Government of Bangladesh. The construction was financed through a US$10-million grant and US$3.2 million financing, both from IsDB.
The objective of the project is to generate income for Islamic Development Bank – Bangladesh Islamic Solidarity Education Waqf (IsDB-BISEW) which is providing educational and social support to the underprivileged segment of the Bangladeshi society.
IsDB-BISEW was established on 1997, following an agreement signed between IsDB and the Government of Bangladesh. The objective for the establishment of IsDB-BISEW was to provide financial assistance to the Bangladeshi Muslim students, Islamic educational institutions and Orphanages in Bangladesh. The intent was to gradually transform the large population into productive workforce by strengthening their technical capability to use existing and emerging technologies resulting in sustainable economic growth and equality.
The total cost of the project is estimated at US$ 85.5 million. IsDB will finance part of the cost of the project for an amount of US$ 15.0 million (APIF: US$ 6.0 million and APIF Line: US$ 6.0 million and Fael Khair: US$ 3.00 million). The Beneficiary will contribute the remaining amount of US$ 70.5 million including the value of land.