Nawab Subadar Amir Umara, Jagirdar of Dhaka created many gardens (bagan) in Dhaka city in the Mughal period. The Mughals appointed many mali (gardeners) to take care of the gardens and to make flower garlands. The mali lived together in this area, hence the name Malibag

The present Malibag Bazaar contains the Malibag Super Market, Jilu Shopping Market, Rail Gate street market and a vegetable market. The Malibag super market is a four-storey building with 350 shopping stalls on the first two floors. At the front are the grocery, stationery, bakery, sweet and fruit shops as well as restaurants. Inside of the market are the sari, pant, shirt, three-piece, jewelry, electronics, plastic item, ceramics, crockery and cosmetic shops. In Jilu Biponi Market there are about 150 shops providing groceries, stationery, tailors and daily household needs. A mosque stands beside this market and a general market is located in front. Vegetable, fish, meat, dry fish and daily needs are sold in this general market.

Opposite the general market building is the big roadside Rail Gate market. This market stands in four lines on both sides of the rail line. Rice, dal, fish, meat, vegetable and other daily items are sold in this market cheaply because the major customers are the. marginalized urban poor. Small restaurants, tea stalls, general cloth stalls and shoes shops are also found here.

Although Malibag Super Market and Julu Biponi market close on Fridays the general market and Rail Gate street market have no holyday. Malibag Bazaar opens at 7:00 AM and closes at 9:00 PM. A few shops of Rail Gate street market and some of the small roadside shops remain open until 11: 00 PM .