Pakistan Bait-ul-Mal (PBM) and Institute of Business Administration (IBA), Karachi signed an MOU where 25 deserving students will receive funding of up to Rs. 100,000 every year. The MOU was signed by Mr. Aon Abbas Buppi, Managing Director, PBM and Ms. Malahat Awan, Director, Corporate Relations, IBA Karachi at the PBM headquarters in Islamabad. The two-year agreement will also offer internship opportunities to these students in various offices of the PBM around Pakistan. Speaking at the occasion Mr. Abbas remarked, “PBM is extremely happy to support IBA as it is one of Pakistan’s most prestigious universities. In due time, as our relationship with IBA strengthens, we hope to increase PBM support to include 25 more students.” Ms. Awan thanked PBM for their support for IBA, especially during this stressful time, when a lot of families have been affected by COVID. Keeping in view, the economic impact of the pandemic in the country, the IBA Karachi has beefed up its financial assistance program to Rs. 380 million, a 25% increase from last year, which will benefit more than 1200 needy students. The financial assistance program at the IBA is supported by philanthropic organizations, corporates, alumni and individual donors.