Karachi(Cliff News)The Institute of Business Administration (IBA), Karachi signed a memorandum of understanding (MoU) with the Orange Tree Foundation (OTF) agreeing to provide scholarships worth Rs. 2 million each year for a period of 2 years to undergraduate and graduate students. The objective of the scholarship is to provide the Institute’s promising young students a stepping stone to self-efficiency. The eligibility for the scholarship will be based on the candidates’ academic record and their requirements of financial assistance.In the ceremony, the Institute was represented by Acting Executive Director IBA Karachi, Dr. Sayeed Ghani; Head of Corporate Relations and Communications Department, Malahat Awan; Director National Talent Hunt Program, Dr. Junaid Alam; and Director HR Department, Mashooque Bhatti while OTF was represented by CEO and Board Member, Omer Mateen Allahwala; Chairman Board, Faisal Khalid Abdullah; Board Member and Head of Academic Program, Arfa Hasnain, Senior Coordinator, Tazeen. A. Qadir, and Senior Member Fundraising Committee, Riaz Ahmed.The IBA Resource Mobilization department is striving to create new avenues for helping the financially constrained students at the Institute. Every year 4000 students get enrolled in the six undergraduate as well as eight graduate programs of the IBA Karachi. Out of these 4000, 1500 students apply for financial assistance. Along with the limited resources of the IBA Karachi, many individuals, businesses, and governments make regular funds available to provide scholarships to the underprivileged students of the Institute.The OTF is a tax-exempted, not-for-profit Educational Society based in Karachi working towards the cause of education in Pakistan. Established in 2011, Orange Tree Foundation aims to provide equal opportunities to financially challenged individuals of our society through quality education, healthcare and family support.Scholarships worth Rs. 2 million each year for a period of 2 years.