KARACHI: The Pakistan Bait-ul-Mal (PBM) signed on Thursday a memorandum of understanding (MoU) with the Institute of Business Administration (IBA), Karachi, under which 25 deserving students will receive funding of up to Rs100,000 every year.

The MoU was signed by managing director of the PBM Aon Abbas Buppi and director, corporate relations, IBA Karachi, Malahat Awan, at the PBM headquarters in Islamabad.

The two-year agreement will also offer internship opportunities to these students in various offices of the PBM across Pakistan.

“Keeping in view the economic impact of the pandemic in the country, the IBA Karachi has beefed up its financial assistance programme to Rs380 million, a 25 per cent increase from last year, which will benefit more than 1,200 needy students,” says a press release.

Published in Dawn, September 5th, 2020