IBA is the oldest business school outside North America. It was established in 1955 with initial technical support provided by the world famous Wharton School of Finance, University of Pennsylvania; later, the University of Southern California (USC) setup various facilities at the institute and several prominent American professors were assigned to the IBA.
The course contents, the curriculum, the pedagogical tools and the assessment and testing methods were developed under the guidance of reputed scholars from these two institutions. IBA has jealously guarded the high standards and academic traditions it had inherited from Wharton and USC while adapting and adjusting them with the passage of time. A large number of Pakistani faculty members received advanced degrees from Wharton and USC.
Till 1994, the University of Karachi awarded degrees to the graduates. In that year, the Sindh assembly elevated the institute's status to that of a degree-awarding institution. A bill is pending in the Assembly for conferring the status of a University to IBA. In spite of a rapid increase in the number of business schools, the IBA has maintained its position as the premier institution of higher learning in the field of management and business administration. Resultantly, the IBA programs are accordingly designed to provide world-class professional managers and entrepreneurs for the business and industry in Pakistan / Overseas.