Tuesday, February 17, 2009


Mr. Arif Naqvi, the Chairman of Aman Foundation and the Chief Executive of Abraaj Capital signed an agreement with Dr. Ishrat Husain, Dean & Director IBA, under which a substantial grant amount of Rs. 905 million would be given to the Institute of Business Administration. The money will be used to construct two new IBA buildings and upgrade its Information Technology infrastructure and services, which is part of a larger strategic IBA plan to develop the future capacity for Management and Leadership in Pakistan. Governor Sindh, Dr. lshrat UI Ebad Khan hosted the signing ceremony followed by dinner at the Governor House in Karachi.
Aman Foundation is a new philanthropic organization operating in Karachi, committed to making strategic interventions to support and strengthen educational institutions and take other initiatives related to human development that are critical to providing the people of this mega-city with the resources they need to reach their full potential.
Mr. Naqvi said the mission of Aman Foundation is the relentless pursuit of sustainable, substantial and systemic development in the areas of Pakistan's education, health and food security. The Foundation combines the skills of experienced management professionals with the know-how of technical experts in these areas.
Aman Foundation is also currently supporting other private sector education projects, including a food supplementation programme for school-children in under-privileged localities of the city. It has also laid the groundwork for a major emergency health care initiative in the form of a state-of-the-art ambulance service, scheduled to launch in Karachi later this year.
In his address, Governor Dr. lshrat UI Ebad Khan appreciated the contribution of Aman Foundation to IBA as a commendable example for others to facilitate higher education in the country. He said, "The Government of Pakistan and Sindh are facing serious financial constraints and despite our wish we are unable to cope with the growing demands of our higher education institutions. In order to face the challenge, I appeal to the private sector and philanthropist of Pakistan to step forward and make generous contributions to institutions such as IBA which have an established track record as well as a future full of promises."
Dr Ishrat Husain, Dean and Director IBA, expressed his gratitude to the Aman Foundation for its generous contribution to IBA. He said, "Management of knowledge which is exploding at an exponential basis is going to be as tough a problem as the dissemination and assimilation of knowledge is. Institutions such as IBA will have to sift out the chaff from the grain and embed this attribute in the graduates they will provide over the next few decades."
He urged the guests and the philanthropists of Pakistan to emulate the initiative taken by the Aman Foundation and extend financial, moral and intellectual support to IBA in its endeavor to be ranked among the top 100 Global Business Schools and top 10 Business Schools in the Middle East and South Asia region. "The commitment you make today by your support can be disbursed over next few years." He added.
Shaukat Tarin, advisor to the Prime Minister on Finance, Revenue, Economic Affairs & Statistics, and members of the IBA Board of Governors, Alumni and other distinguished personalities were also present at the occasion.