MoU between Ihsan Trust & IBA-CED

MoU between Ihsan Trust & IBA-CED

IBA Karachi and Ihsan Trust have joined hands together to foster the growth of the early-stage startups and business ventures nurtured under the platform of IBA AMAN Center for Entrepreneurial Development (CED). The formal MoU was signed on 9th May, 2018 by Dr. Farrukh Iqbal (Dean & Director, IBA) and Mr. Ahmed Ali Siddiqui (Founder Trustee, Ihsan Trust). Mr. Fayyaz-ur-Rehman along with Mr. Abdul Rauf from Meezan Bank and Dr. Shahid Qureshi (Program Director, CED) along with CED’s management team were present during the MoU signing ceremony.

MoU between Ihsan Trust & IBA-CED
IBA CED and Ihsan Trust will work in collaboration in order to support the startups during their commercialization or/and expansion phase. IBA CED will shortlist the potential startups from its incubation center and different certification programs. After completing due diligence, those ventures will be forwarded to Ihsan Trust who will then assess the selected startups and teams. The Ihsan Trust will make investment on matching money principle i.e. 50% of the project investment would be arranged by the entrepreneur(s) and 50% would be invested by Ihsan Trust on the basis of Mudaraba or Musharaka, Murabaha, Ijara etc. based concepts/ models. Moreover, all the financing facilities provided by the organization would be interest (“Riba”) free.

Through this initiative, both of the collaborative partners aim to facilitate the growth of an entrepreneurial eco-system within Pakistan.

MoU between Ihsan Trust & IBA-CED
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