‘Independent Economic Society’ (IES), a new student association under the Department of Economics, had its inauguration on 25th March, 2010, at the Asia Pacific Blossom Hotel, Dhaka. The President of IES, Md. Khaled Shaifullah introduced the club, its background and future aspirations. He said IES plans to create a professional environment and open opportunities for students to work in research projects with different banks and financial organizations to gain professional experience. The inauguration was followed by a seminar titled “Creating a Better Climate for Investment in Bangladesh”, organized by the Department of Economics of Independent University Bangladesh (IUB).
The program was attended by the Vice Chancellor, Prof. Bazlul Mobin Chowdhury, Prof. A.K. Monaw-war Uddin Ahmad, Head of the Department of Economics, Aminur Rahman, Associate Professor and Programme Coordinator of the Investment Climate Research Unit at IUB and as chief guest, Dr. Abul Barakat, Chairman, Janata Bank and Professor of Economics, Dhaka University. Syed Akhtar Mahmood, Senior Programme Manager for the Bangladesh Investment Climate Fund (BICF) also graced the occasion as guest speaker.
Mr Aminur Rahman talked about the official establishment of the Investment Climate Research Unit at IUB in October 2009. He also announced the ongoing and future activities of the research unit under the BICF Academic Partnership Program including awarding grants to faculty members for conducting research on Investment Climate issues, organizing seminars and workshops on the Investment Climate of Bangladesh, recruiting interns from the university for the International Finance Corporation (IFC), incorporating Investment Management into the curriculum of the School of Business and so on.
Syed Akhtar Mahmood discussed the many constraints faced by the private sector in Bangladesh and possible measures that can be taken to overcome those obstacles to create a better climate for Investment in Bangladesh. Moreover, Mr. Akhtar Mahmood elaborated on how the academic sector, with its active involvement and participation can contribute to the enhancement of the country’s investment climate.
Chief Guest, Prof. Abul Barakat emphasized on the need for human development before moving on to address other areas of development in Bangladesh. ‘I personally believe that development is not just about GDP or economic growth, it is about human development also, which is defined by three vital elements such as longevity, knowledge and real income where we lack operational practice’, he said.
The seminar concluded with discussions on the possible measures that can be taken collaboratively by the academic sector, business chamber leaders and government and non-government associations in order to successfully combat the many obstacles that continue to hamper the investment climate of Bangladesh.
Independent Economic Society (IES) 
