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 set up 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 the University of Southern California.