MoU inked to provide loan to students.

KARACHI -- The IBA Karachi signed a Memorandum of Understanding (MOU) with the Professional Education Foundation (PEF) for providing an interest-free loan facility to 15 undergraduate students on merit-cum-need basis at the PEF office, Karachi.

Acting Executive Director IBA, Dr Sayeed Ghani and Member, Board of Governors, PEF Mr. Ashraf Adamjee signed the MOU on behalf of their respective institutions.

For the next 5 years, as per the MOU, PEF will provide interest-free loans to 15 undergraduate students in the field of Business Studies and IT worth Rs 70,000 each and amounting to a total of Rs 1.05 million every year.

Every year, around 4000 students are enrolled in...