The Institute of Business Administration (IBA), Karachi and ASA Microfinance Bank (Pakistan) Ltd signed a Memorandum of Understanding (MoU) for the creation of an endowment fund of PKR 10 million to support the education of students from marginalized areas.
CEO, ASA Microfinance Bank, Mr. Saeed Uddin Khan, and Executive Director IBA, Dr. S Akbar Zaidi, signed the MoU on behalf of their respective institutions. Representatives from ASA MFB included Deputy CEO, Mr. Tasawar Hussain, and Social Performance Manager, Mr. Irfan Hyder. The IBA was represented by Director Corporate Relations and Resource Mobilization, Ms. Malahat Awan, Director Finance, Mr. Moeid Sultan and Director NTHP, Mr. Junaid Alam Khan.
On the occasion, Mr. Khan said, “We are working with women on the grass-root level, often neglected by the big commercial banks, to enable and equip them with the resources to set up small businesses and drive themselves out of poverty. We find IBA working on similar lines by reaching the young talented students in far-flung areas and dispensing quality education to uplift their socio-economic condition. We are delighted to be part of this endeavor”.
Dr. Zaidi thanked ASA Microfinance Bank for creating an endowment fund and helping IBA in its mission of inclusivity and promotion of education. Later, Mr. Khan presented a cheque to Dr. Zaidi.