KARACHI - The Board of Governors of the Institute of Business Administration (IBA) Karachi in its 91st meeting discussed the institution’s merit recognition and financial assistance policies.

A spokesman said on Friday that the Board also considered and approved the audited and management accounts for the period of June 30, 2016.

It also offered Fateha for the departed soul of the late Wazir Ali Khoja, a member of the Board of Governors.

While discussing the IBA’s merit recognition and financial assistance policies, it was pointed out that under the prevailing system, substantial fee reductions were offered to merit students irrespective of financial need. 

The Board agreed that the merit recognition system should be brought into closer alignment with international best practice and should consist primarily of awards, prizes and citations.  

The Board also asked the Management to review its financial assistance policies to see if a greater number of needy students could be given financial assistance in future years.

It also considered two recommendations made by the Pakistan Centre for Philanthropy, namely, that the Chairmanship of the Board should not reside in the Dean and that female representation on the Board should be enhanced. 

The Board agreed to request the competent authorities in the Government of Sindh to enact an amendment to allow for the first recommendation to be implemented, and to make appropriate nominations against current vacancies to strengthen female representation in the Board.