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Muhammad Rafay Siddiqui is an IBA alumnus who completed his BBA in 2015. He has recently got his master's degree (MBA) from Lahore University of Management Sciences and secured distinction on the Dean's Honor Roll.

He also attended the Koç University, Istanbul, Turkey on a semester exchange program, where his report on Porter's National Diamond analysis of Bursa Automotive Cluster was deemed as the best one and is to be sent to Harvard Business School's annual Microeconomics of Competitiveness global competition.