The foundation of Victoria University of Bangladesh is laid on Global Institute of Business and Technology (GIBT), Dhaka - the only approved educational partner center of Victoria University of Wellington (VUW) in South Asia - which started functioning in 1999. In March 2001 it signed a partnership agreement with Victoria University of Wellington, New Zealand. The partnership agreement was designe
d to jointly provide degree programs for students with facilities for studies both at GIBT and VUW leading to VUW degrees. The program thus offered an unique opportunity of securing a highly prestigious degree of VUW. GIBT merged with Victoria University of Bangladesh when the latter was accorded permission on 31 May 2003 by the Government of Bangladesh to function as a full-fledged university under the Private University Act. The university was established with sole sponsorship of Mr. Moin Uddin Chisty, a philanthropist