KARACHI: A Memorandum of Understanding (MoU) was signed between the Institute of Business Administration (IBA) Karachi, IBA Alumni Class of 1993 and Generating Employment Alternatives to Promote Self-Reliance (GEAR) to financially support IBA students.

The IBA Executive Director Dr S Akbar Zaidi, CEO and Board of Trustees G.E.A.R. Ekhlaque Ahmed and representative of the IBA Class of 1993 Aliuddin Ahmed, signed the MoU at a ceremony held at the IBA.

The Class of 1993 has set up the Class of '93 - Kamran Ahmed Scholarship Fund, named after a deceased classmate. The funding will be released through G.E.A.R. According to the MOU, this scholarship fund will support two deserving students for their entire duration of studies through the provision of grant or interest-free loan.

Commenting on the initiative, the representatives from the Class of 1993 and G.E.A.R. said, "We are pleased to partner with the IBA in contributing towards making quality education affordable to deserving students We look forward to engaging with the recipients of the scholarship as they prepare themselves for their bright future and will be available to mentor and guide them throughout their journey."

Dr Zaidi appreciated the initiative and said, "We are grateful to the G.E.A.R Foundation and the Alumni Class of 1993 for extending its endearing support to the students belonging to the underprivileged regions who come to our institution after going through a rigorous evaluation process.

Copyright Business Recorder, 2020