Sustaining Quality Annual Report 2016-17 Annual Repo r t 2 0 1 6 - 1 7 Sustaining Quality Annual Report 2016-17 Message from the Dean and Director The Institute has long had a reputation for delivering quality education. What does this rest on? For many, this rests on having admissions characterized by selectivity, teaching by discipline and examinations by integrity. These are critical aspects of quality and they stand out in a higher education environment where numerous examples can be given of the opposite. For many, the Institute’s reputation also rests on the success achieved by its graduates in their professional careers. An impressive proportion of leadership positions in Pakistan’s corporate sector is accounted for by graduates of the Institute, decade after decade. Some graduates have also achieved professional distinction in overseas jobs. Where do we stand today? I have the pleasure to report that several objective measures show that we continue to do well in terms of quality. For many years now, we have been strengthening the quality of our faculty. In FY13, we had 81 fulltime faculty of whom 34 had PhD qualifications. In FY17 we had 118 fulltime faculty of whom 65 had PhD qualifications. We have almost doubled the number of highly qualified faculty in five years. Research is internationally considered a mark of quality. The research orientation of our faculty has been rising over time. In calendar 2016, our faculty published 89 papers in journals and conference proceedings. What is more impressive is that 21 of these publications were in high-quality peer-reviewed international journals distinguished by a high rate of citation and, therefore, impact. This compares with only 7 such publications in 2012. The quality of our students also remains very high. While enrolments have risen steadily over the last five years, this has not been at the cost of selectivity. Our BBA program attracted 3787 applications in FY17 and we offered admission to only 293, yielding a selectivity rate of 8 percent. In FY13, our BBA selectivity rate was about 25 percent. The selectivity rate of our MBA program has also tightened over time, from close to 54 percent in FY13 to only 35 percent in FY17. Other popular undergraduate programs have seen similar trends, from 50 percent to 18 percent for the Computer Science program and from 26 percent to 19 percent for the Accounting and Finance program. We also have an outcome measure of quality for our students and this is the salary level that they attract upon graduation. Over the past five years, the salary offers received at entry by our BBA and MBA graduates have risen by 25 percent while those received by our Computer Science graduates have risen by 11 percent. This suggests that market perceptions of the quality of our graduates have held up over time. Reputations take a long time to build but can be lost rapidly. We are committed to ensuring that our reputation for quality is sustained for a long time to come. Towards this end, we will continue to make investments in facilities and faculty as well as to maintain standards relating to admissions, teaching and examinations that have served us well in the past. Life after IBALife after IBA 61 61 Contents Career Development Career Development Centre (CDC) Centre and Jobs (CDC) and Jobs 62 62 Message fromMessage the Dean from and the DirectorDean and Director 3 3 Alumni Affairs Alumni Affairs 67 67 The Year inThe Review Year in Review 6 6 Financial PerformanceFinancial Performance 2016-2017 2016-2017 69 69 Highlights 2016-17 Highlights 2016-17 7 7 The Dean’sThe Engagements Dean’s Engagements 77 77 Academic AcademicPrograms Programs 9 9 IBA Activities,IBA Activities,Events and Events Visitors: and 2016-17 Visitors: 2016-17 79 79 Faculty Faculty 10 10 ANNEXURESANNEXURES 84 84 Faculty in Numbers Faculty in Numbers 10 10 Annex A. Faculty Annex Members A. Faculty Welcomed Members in Welcomed2016-17 in 2016-17 84 84 Faculty Publications Faculty Publications 11 11 Annex B. Faculty Annex Publications B. Faculty Publications 89 89 Faculty Development Faculty Development 2016-17 2016-17 12 12 Annex C. Faculty Annex Development C. Faculty Development 96 96 Selected Research Selected and Research Consultancy and ConsultancyPrograms Programs 13 13 Annex D. Centre Annex for D.Excellence Centre for in Excellence Islamic Finance in Islamic (CEIF) Finance Activities (CEIF) 100 Activities 100 Students Students 14 14 Annex E. Centre Annex for E.Executive Centre for Education Executive (CEE) Education Activities (CEE) Activities102 102 Enrolment Enrolment 14 14 Annex F. Centre Annex for ExcellenceF. Centre for in Excellence Journalism in (CEJ) Journalism Activities (CEJ) Activities106 106 Admissions by Admissions Degree Programs by Degree Programs 15 15 Annex G. Highlights Annex G.of HighlightsCompleted of Projects Completed 2016-17 Projects 2016-17 108 108 Academic Support Academic Programs Support Programs 28 28 Annex H. Boards Annex and H. Committees Boards and Committees 109 109 Ardeshir Cowasjee Ardeshir Centre Cowasjee for Writing Centre for Writing 28 28 Annex I. Alliances Annex and I. Alliances Partnerships and Partnerships 111 111 Skills Development Skills Development Program Program 28 28 Annex J. Student Annex Exchange J. Student Programs Exchange Programs 114 114 Personal Effectiveness Personal Effectiveness 29 29 Annex K. Dean’s Annex List K. Dean’s List 115 115 ProfessionalProfessional Development Development Centres Centres 31 31 Aman Centre Aman for Entrepreneurial Centre for Entrepreneurial Development Development (CED) (CED) 32 32 Centre for Excellence Centre for in Excellence Islamic Finance in Islamic (CEIF) Finance (CEIF) 34 34 Centre for Executive Centre for Education Executive (CEE) Education (CEE) 35 35 Centre for Excellence Centre for in Excellence Journalism in (CEJ) Journalism (CEJ) 36 36 Centre for Information Centre for & Information Communication & Communication Technology (CICT) Technology (CICT)37 37 Resource MobilizationResource Mobilization and Financial and Assistance Financial Assistance 39 39 Resource Mobilization Resource Mobilization 40 40 List of Donors List 2009-17 of Donors 2009-17 40 40 Financial Assistance Financial Assistance 42 42 Talent Hunt Outreach Talent Hunt Programs Outreach Programs 46 46 Life at IBALife at IBA 51 51 Student Events Student Events 53 53 Student Achievements Student Achievements 55 55 Convocation Convocation2016 2016 57 57 Shariah scholars. It will meet the growing needs of the Islamic finance industry by providing theoretical and applied knowledge of Islamic finance, Islamic The Year in Review Highlights 2016-17 jurisprudence, banking and economics. Two innovative partnerships were initiated in 2016-17, the first involving ■ We co-sponsored the 3rd International Conference on ■ IBA served as a knowledge partner for ITCN Asia 2016, a an academic link and the other a corporate link. On the academic side, Marketing with the University of Malaya around the theme major information technology exhibition and conference we began discussions with Shanghai University for a joint MS Finance of Bottom of the Pyramid: Emerging Markets. The that took place at the Karachi Expo Centre during 27th – degree program. Students enrolled in this program would study in both conference had two parts, one aimed at the Pakistani 29th September 2016. Mr. Imran Batada, Director ICT, was China and Pakistan. The China part will include one semester of teaching business sector and the other aimed at an academic a panelist and keynote speaker at for the conference. and a three-month long internship in a Chinese firm. On the corporate audience of students and teachers from business schools Students and incubates associated with IBA showcased side, we signed an agreement with Bank Alfalah to expand experiential in both Pakistan and Malaysia. impressive startups at the IBA Pavilion. learning opportunities for IBA students and to collaborate on seminars ■ The 2nd International CPEC Business & Research ■ A team from Google, Singapore visited IBA to hold a and workshops. Conference 2017 was organized by IBA MBA students in session called ‘Google for Publishers’ in which they partnership with leading universities from all four provinces presented and discussed two products, AdSense and The Institute established its presence in the area of research in Islamic and one university from China. On 15th March 2017, the AdMob. The audience comprised of students, writers, Finance by hosting a global conference entitled World Islamic Finance Presidential Session of the conference was held at Sindh bloggers, web developers/designers, and app developers. The talk was Google’s first ever tech-talk in Pakistan. Forum in September 2016. Scholars from all over the world participated Governor House and the Chief Guest, Mr. Mamnoon Hussain, President of the Islamic Republic of Pakistan, ■ Dr. Mehreen Faruqi, a Greens MP of Pakistani origin in the in the Forum and presented substantive research papers. The Federal spoke on the importance of CPEC. The Presidential NSW Upper House of the Australian Parliament, visited the Minister of Finance, Mr. Ishaq Dar and the well-known scholar, Shaikh Session was also attended by Mr. Mohammad Zubair, IBA on April 12, 2017 together with HE Margaret Adamson, Muhammad Taqi Usmani, delivered keynote speeches. We also began Governor Sindh, and the honorable Consul General of the High Commissioner to Pakistan. The two participated in an MS degree program in Islamic Banking and Finance in January 2017 China, Mr. Wang Yu. The conference had representation a panel discussion on the role of youth in development, with the objective of producing both practitioners and scholars in the from 20 national universities and 5 international universities opportunities for youth in Pakistan, and gender equality for subject over time. from China, Germany, South Africa, UK, and Canada. women. ■ A National Media Conference was organized by the Centre ■ The first ever TEDxIBA was organized by The Media & CPEC has become an important topic of discussion in Pakistan since its for Excellence in Journalism (CEJ) on the theme of Digital Communication Society of IBA with the theme ‘The Road launch in 2013.