It was proposed by Betül Tanbay in 2003, then the chairwoman of the Mathematics Department of Boğaziçi University to its rector Sabih Tansal who immediately allocated a site.
At that time, the three rectors were all mathematicians (Ayşe Soysal, Atilla Aşkar and Tosun Terzioğlu respectively) which made the contract easier.
[3] The opening seminar of IMBM was delivered by Dan Goldston, János Pintz and Cem Yalçın Yıldırım in 2006.
Resources of IMBM come from endowment income, personal and institutional grants and collaboration agreements and gifts.
The buildings had been in very bad condition and were brought to life by the initiative of Betül Tanbay (Boğaziçi University Mathematics Department), the first codirector of IMBM.