Karachi, January 12, 2010: The Pakistan Microfinance Network (PMN) and Institute of Business Administration (IBA) signed a MoU today initiating the PMN Academic Linkages program at the prestigious university. The Memorandum was signed by Dr. Rashid Bajwa, Chairperson of PMN and by Dr. Ishrat Husain, Dean of IBA, marking the beginning of a collaborative relationship between the two organizations.
In the MoU, PMN agrees to share microfinance data and opportunities with IBA students, where they will be informed of projects, internships and job vacancies at all PMN member organizations. IBA will reciprocate by informing PMN of applicants for jobs and projects and allow microfinance material to be displayed and distributed on the campus. This will potentially culminate in a Microfinance course in undergraduate and graduate business programs.
Speaking on the occasion, the CEO of PMN, Syed Mohsin Ahmed stated, “The Academic Linkages Initiative by PMN is part of the Network’s capacity building objective. Since its inception, capacity building has been one of the Network’s primary concerns, taking into account both the training and non-training needs of its members. Building academic linkages will allow PMN to draw quality human resource and build knowledge platforms through contributions from both the practitioner and academic realms.”
The two organizations will also encourage an exchange of dialogue and information by facilitating research forums and participating at lectures and conferences arranged by the other. IBA will coordinate with PMN in inviting guest speakers on microfinance related subjects to the campus.
Talking about the MoU, the Dean of IBA, Dr. Ishrat Husain says, “PMN’s role as the information hub of the microfinance industry has been a key factor in establishing the credibility of the sector internationally. This collaboration between IBA and PMN will allow the industry to attract, retain and train quality human resource for microfinance within Pakistan.” He further announced the launch of a specialized Executive MBA program in the field of Banking and Financial Services. The Banking & Financial Services EMBA Program, other than the core management subjects, offers different specialization fields including microfinance. “The program participants will be able to choose microfinance and brush up their expertise and skills in this specific area”, said Dr. Ishrat.
PMN collaborates with practitioners to collate and compile discourse on microfinance, adaptable across business programs in the country. Inserting a body of knowledge at the level of the academic institution will translate into a healthier turn out of interns, employees, researchers and instructors for the industry in the future while increasing options for the students and faculty.
PMN is an association of 23 retail microfinance providers (MFPs) and represents approximately 95% of the microfinance market in Pakistan. It is positioned to engage with and facilitate the stakeholders in the industry and focuses on serving as an information hub, promoting an enabling environment and building the capacity of stakeholders.
The INSTITUE OF BUSINESS ADMINISTRATION, KARACHI, is the oldest business school outside North America. Despite of a rapid increase in the number of business schools, the IBA has honored its position as the premiere institution of higher learning in the field of Management, Business Administration and Computer Science for more than four decades now. The main force behind this continuous success is the high standards of academic, leadership excellence and the IBA alumni holding key positions in the public and corporate sectors of Pakistan.