The IBA and Sumitomo Corporation sign a MoU
September 13, 2018: The IBA and Sumitomo Corporation signed a
MoU for scholarship grants under the name of “Sumitomo
Corporation Scholarship". The scholarship program will benefit
three IBA students from the MBA program
The objective of the scholarship is to cultivate and foster the education of promising young leaders attending the institute. The two parties agreed that three students will be selected each year to receive individual grants, on a biannual basis, from Sumitomo Corporation’s Karachi office.
The eligibility of the scholarship will be based on potential candidates’ Pakistani citizenship status, academic excellence, financial assistance required, below the age of 30 and obtained at least satisfactory grades in all subjects.
In the ceremony, the IBA was represented by Executive Director IBA, Dr. Farrukh Iqbal, Head of Alumni Relations, Graduate Placement, Resource Mobilization & External Relations Mrs. Malahat Awan Head, and Senior Manager, Alumni Affairs, Graduate Placement, Communications & External Relations Mr. Haris Siddiqui, while the Sumitomo Corporation was represented by General Manager, Corporate Sustainability Department, Mr. Yukio, Sakai, and Assistant General Managers Mr. Masataka Muroi, Mr. Shahzad Ali.
Shedding light on IBA's financial frameworks, Executive Director IBA, Dr. Farrukh Iqbal said, “Despite being a government run institute, the IBA receives 90% of its funding from donations and private corporations.”
Marking this momentous occasion, General Manager, Corporate Sustainability Department Mr. Yukio Sakai, said “Our organization is expanding our CSR and investment in education and we are delighted to have a collaboration with such a prestigious institute”