Most diplomatic missions are located in Gulshan and Baridhara area of the city. The Agargaon area near Parliament is home to the country offices of the United Nations, the World Bank, the Asian Development Bank and the Islamic Development Bank. Dhaka municipality was founded on 1 August 1864 and upgraded to "Metropolitan" status in 1978. In 1983, the Dhaka City Corporation was created as a self-governing entity to govern Dhaka. Under a new act in 1993, an election was held in 1994 for the first elected Mayor of Dhaka. The Dhaka City Corporation ran the affairs of the city until November 2011. In 2011, Dhaka City Corporation was split into two separate corporations – Dhaka North City Corporation and Dhaka South City Corporation for ensuring better civic facilities. These two corporations are headed by two mayors, who are elected by direct vote of the citizen for a 5-year period. The area within city corporations was divided into several wards, which each have an elected commissioner. In total the city has 130 wards and 725 "mohallas". Unlike other megacities around the world, Dhaka is serviced by over two dozen government organizations under different ministries. Lack of co-ordination among them and centralization of all powers by the Government of Bangladesh, keeps the development and maintenance of the city in a chaotic situation. Dhaka is the financial, commercial and the entertainment capital of Bangladesh. It accounts up to 35% of Bangladesh's economy. The Globalization and World Cities Research Network ranks Dhaka as a beta-global city. The city is home to the country's monetary authority, the Bangladesh Bank, and the largest stock market, the Dhaka Stock Exchange. The main commercial areas of the city include Gulshan, Banani, Kawran Bazar, Dhanmondi Motijheel, Mohakhali, and Dilkusha. Tejgaon and Hazaribagh are the major industrial areas. The city has a growing middle class, driving the market for modern consumer and luxury goods. Restaurants, shopping malls and luxury hotels continue to serve as vital elements in the city's economy. The city has historically attracted numerous migrant workers. Hawkers, peddlers, small shops, rickshaw transport, roadside vendors and stalls employ a large segment of the population – rickshaw-drivers alone number as many as 400,000. Half the workforce is employed in household and unorganised labour, while about 800,000 work in the textile industry.