IBA Karachi and Akhuwat ink MoU
April, 2019: IBA, Karachi and Akhuwat Islamic Microfinance signed an MoU to provide an interest free loan of up to Rs. 75,000/- per student for 10 to 12 deserving final year students enrolled in any program at the IBA. Loans repaid by these students will be extended to more students as an ongoing activity. The selection would be based on need-cum-merit basis.
The students selected for this scheme can either start repaying the student loan from the first month of the issuance of the loan facility or re-pay the loan after graduation as monthly installments as mutually agreed between Akhuwat and the beneficiary.