History of Dhaka across Bangladesh. A real estate boom has followed the development of new settlements such as Gulshan, Banani and Motijheel. In 1985, Dhaka hosted the inaugural summit of the South Asian Association for Regional Cooperation. It has also hosted the summits of the D8 group and the Organisation of the Islamic Conference. In 1983 City Corporation was created to govern Dhaka and its population reached 3,440,147 and it covered an area of 400 square kilometres. The city was divided into 75 wards. Under new act in 1993 the first election was held in 1994 and Mohammad Hanif became the first elected
Dhaka accounted for the largest share of the world's jute production. Dhaka suffered stagnation and decline began during the mid 19th-century. Its muslin industry was destroyed by high colonial taxation, restriction of trade and forced imports of British manufactured textiles. The city's weavers starved to death during Bengal famines. The rise of the colonial capital Calcutta caused a sharp decline in the city's population. Dhaka became heavily impoverished. In 1824, an Anglican bishop described Dhaka as a "city of magnificent ruins". During the mutiny of 1857, the city witnessed revolts by the Bengal Army. The British Indian rule was established following