The Institute of Business Management (IoBM) signed a memorandum of understanding with Salaam Takaful Limited (STL) on Tuesday, February 7, 2023, at IoBM. The signatories were Mr. Talib Karim, President IoBM and Mr. Rizwan Hussain, Managing Director and CEO, Salaam Takaful Limited. Present on the occasion were STL’s Mr. Noman Zaidi, Head of Human Resources; Mr. Farhan Sheikh, Head of Marketing; and Mr. Mohammed Shaharyar Mallick, Deputy Manager - Special Projects. IoBM’s Rector, HoDs, Faculty, and Management were also present.
The primary objective of this MoU is to create awareness and promote Islamic insurance to the students of IoBM. Whereas STL is desirous of providing interest-free loans to the students studying at IoBM on account of dues accrued in lieu of tuition fees for a prescribed period. The MoU will mutually strengthen each other in playing their role in providing education to those communities and individuals who are admitted to IoBM on merit and cannot afford the applicable IoBM tuition fees. In addition, IoBM shall facilitate in creating awareness and image building for its students through awareness programs, invite STL to participate in on-campus job and career fairs, and assist STL students in the selection of students on a need basis, among others.
While addressing the audience, Mr. Talib Karim urged the need to pursue follow-up of the MoUs so that the prescribed actions are completed in time. He was hopeful that such MoUs will strengthen academia-industry linkages. He added that IoBM’s CIBF can assist STL in completing academic and research projects. Mr. Rizwan Hussain was hopeful that STL and IoBM can collaborate on these fronts with IoBM providing the graduates having sound industry knowledge. The MoU was initiated by IoBM through its Center for Islamic Business and Finance (CIBF). Dr. Imamuddin, Associate Professor and Acting Head, Department of Accounting and
Finance, CBM, IoBM played an instrumental role in this regard.