Bangladesh Development Initiative
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Innovator's Award

Bangladesh Development Initiative-National Innovator's Award (BDI-NIA) Fund was established in 1993 with the money, of the total amount (tk 3,55,000 + tk 1,92,760 =) tk 5,47,760, provided by BDI. The money of BDI-NIA Fund was invested in 1993 in Five Years Bangladesh Sanchay Patra at Jatio Sanchay Bureau, Elephant Road, Dhaka, Bangladesh. A meeting was held on September 19, 1994 in the office of the Vice Chancellor of BUET, Dhaka, Bangladesh. The BDI-NIA Trust, with the Vice Chancellor of BUET as the Chairman of the Trust and Director of IAT, BUET as the Chief Executive and Member-Secretary of the Trust, was formed to manage BDI-NIA Trust. It was decided in the meeting that BDI-NIA would be given starting from the year 1994.

The Bangladesh Sanchay Patra investment matured towards the end of year 1999. The Sanchay Patras were cashed and were later deposited into the BUET branch of Sonali Bank as follows:


Deposit Date

Due Date

Amount (taka)


June 3, 1998

June 3, 2001



August 20, 1998

August 20, 2001



March 11, 1999

March 11, 2002


Another smaller sum of money was deposited into a non-fixed deposit account of the same bank. The balance in this account was taka 54,919.70 as of November 1999.

Professor Nurul Islam, Department of Chemical Engineering and former Director of Institute of Appropriate Technology (IAT) provided the above information to BDI's Ashraf Ali on December 30, 1999 during Ashraf Ali's visit to Bangladesh. Professor Nurul Islam handed a copy of the deposit receipts of the F.D. accounts over to Ashraf Ali.

For more information on BDI-NIA, see here:  Initiatives/Issue 1 - 1993/Segment03.pdf  Initiatives/Issue 1 - 1993/Segment04.pdf  Initiatives/Issue 1 - 1993/Segment07.pdf  Initiatives/Issue 2 - 1994/Segment04.pdf