The Institute of Business Administration (IBA), Karachi took a leap as it inked  a Memorandum of Understanding (MoU) with Indian School of Business (ISB) to provide executive education in Pakistan.

A spokesperson of IBA Karachi said in a statement issued here onSaturday that the MoU was signed by  Dean and Director, IBA Karachi Dr Ishrat Husain and Deputy Dean, ISB  Deepak Chandra, at the ISB campus in Hyderabad, India.

The collaboration, it was pointed out, brings together IBAKarachi, the oldest business school outside North America, and ISB'sCentre for Executive Education, one of the largest executive educationproviders in Asia, to offer open and custom-designed courses for thesenior management seeking swift career growth in the country.

The ISB is recently ranked 12th among the top Global BusinessSchools and is the only school in South Asia which has won theprestigious Association to Advance Collegiate Schools of Business(AACSB) accreditation.

This alliance is considered a major milestone in IBA's journey tobe ranked among the top 100 business schools in the world.Deputy Dean ISB,  Deepak Chandra,  announced that IBA Karachi isthe first Business School in emerging countries with which ISB hasentered into a partnership.

This marks the beginning of a new chapter in the history of twodistinguished business schools in the region.

The IBA and ISB are equally dedicated to develop and enhancebusiness leadership through innovative world class programmes inmanagement.

Dean and Director IBA Karachi, Dr. Ishrat Husain,  stated thatthis start is on a modest scale but we will build up our relationsover time as each one of the two institutions gets to know the other.

Dr. Ishrat said that this collaboration between IBA and ISB isjust the foundation of a long term broad based relationship in whichthe two institutions will pool resources for curriculum review,faculty development, joint research and case studies, students andfaculty exchange and much more in future.

He hoped that the two institutions will make further strides inthe future that will add value to students, faculty and corporate sectors in the two countries.

While ISB will focus on the design and delivery of the programmes, IBA will be responsible for their marketing and promotion.

The programmes will be conducted by ISB's globally renowned faculty.

The first programme is  to commence from June, 2012.