Motijheel: The Historic Commercial and Financial Hub of Dhaka

Motijheel, located in the heart of Dhaka, is one of Bangladesh’s oldest and most significant commercial and financial districts. For decades, it has been the center of banking, insurance, government offices, and corporate headquarters, shaping the economic direction of the country. Although newer business zones like Gulshan and Banani have emerged in recent years, Motijheel remains a symbol of Dhaka’s economic foundation and financial heritage.

Historical Background

• Post-Independence Growth: After 1971, Motijheel developed as the central hub for commerce and government institutions.
• Banking Concentration: Most of Bangladesh’s state-owned banks — including Sonali Bank, Janata Bank, Agrani Bank, and Rupali Bank — established their head offices in Motijheel.
• Traditional Business Center: Until the 1990s, Motijheel was considered the unquestioned “Wall Street of Bangladesh.”

Economic and Business Importance

1. Banking and Finance

• Headquarters of the Bangladesh Bank (the central bank) is located in Motijheel.
• Major commercial banks, insurance companies, and non-bank financial institutions operate here.
• The Dhaka Stock Exchange (DSE), previously based in Motijheel, further reinforced the area’s reputation as the financial capital of the country.

2. Corporate Headquarters

• Houses numerous government institutions, state-owned enterprises, and private corporate offices.
• Still considered an essential location for trade and industrial decision-making.

3. Commercial Activities

• Bustling with small businesses, wholesale markets, and service providers, making it one of Dhaka’s busiest districts during working hours.

Geography and Layout

• Central Location: Situated near Paltan, Shapla Chattar, and Kamalapur Railway Station.
• Shapla Chattar: The iconic Lotus Fountain roundabout symbolizes Motijheel’s status as a financial hub.
• Connectivity: Well-connected by road and rail, though heavy congestion is common.

Lifestyle and Environment

• Unlike Gulshan or Banani, Motijheel is primarily a business district, with fewer residential complexes.
• Working Population: Every weekday, tens of thousands of professionals commute to Motijheel.
• Food & Culture: Street food stalls, small eateries, and traditional markets reflect Dhaka’s urban hustle.

Challenges Facing Motijheel

Despite its importance, Motijheel faces significant challenges:

• Traffic Congestion: Narrow roads and high commuter volume cause daily gridlock.
• Overcrowding: The area is heavily packed with offices, banks, and markets.
• Shift of Business Hubs: Many banks, multinationals, and embassies have moved to Gulshan and Banani, reducing Motijheel’s dominance.
• Urban Decay: Aging infrastructure, lack of modern facilities, and inadequate urban planning.

The Road Ahead

For Motijheel to remain relevant in Dhaka’s evolving urban landscape, key improvements are necessary:

1. Modernization of Infrastructure – Renovating office buildings and upgrading roads.
2. Smart Traffic Management – Introducing digital traffic control and better public transport.
3. Balanced Development – Encouraging mixed-use (residential + business) projects.
4. Green Initiatives – Reviving Shapla Chattar and surrounding parks to improve livability.
5. Digital Finance Hub – Transforming Motijheel into a fintech and digital banking zone.

Motijheel has been the financial heartbeat of Bangladesh for decades, hosting central institutions like Bangladesh Bank and the country’s largest state-owned banks. While newer neighborhoods like Gulshan and Banani are rising as modern business districts, Motijheel remains a historic and symbolic center of commerce in Dhaka. With proper modernization and planning, it can transform into a revitalized financial hub, balancing its legacy with the demands of a digital, 21st-century economy.