[1][2] During the 2006–2008 Bangladeshi political crisis, Syed Muhammad Ibrahim founded a new political party named Bangladesh Kalyan Party in December 2007.

Syed Muhammad Ibrahim was re-elected as party chairman on 5 December 2015.

In 2023, Juktofront made its debut as a new alliance under the leadership of Bangladesh Kalyan Party.

[3] In 2024, Kalyan Party decided to contest in the 2024 Bangladeshi general election.

Kalyan Party won 1 seat in the election in Cox's Bazar-1 where the party chairman Syed Muhammad Ibrahim elected as member of 12th Jatiya Sangsad by defeating the incumbent member Jafar Alam.