Dr. Farrukh Iqbal - Dean & Director IBA

Dr. Farrukh Iqbal

Executive Director
Institute of Business Administration (IBA) Karachi

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Message from the Executive Director

I am honored to have this opportunity to address you as the new Executive Director of the IBA. The Institute has undergone a transformative period under the leadership of Dr. Ishrat Husain and I begin my tenure with the hope that we can build upon the foundation that has been laid over the past eight years.

In recent years, the Institute has seen the launch of new academic programs, the hiring of many more full-time PhD faculty, and the establishment of new centers and partnerships. We must now ensure that these initiatives continue to be implemented in a way that generates sustained benefits for students, faculty and other members of the IBA community. We must monitor the new academic programs to see how they have been received among students. We must integrate new faculty more fully into the flow of teaching and research. We must see how best to market the offerings of the new centers. And we must manage both new and old partnerships to ensure that they continue to bear fruit.

The further strengthening of the faculty will be among my priorities. I hope to see our faculty recognized inside and beyond the Institute for excellence in both research and teaching. The mission of the Institute can best be served by creating an environment where both scholarship and practice are given adequate weight. Academic rigor is important. So we must aim for high quality research output. But we must also learn from the actual practice of business and public policy. Thus continuing to engage with local industry and public sector organizations and distilling the lessons of experience into case studies and other learning tools will also remain very important.

With the transformations of the past eight years, the Institute is now much more than a business school. With an expanded portfolio of programs including Accounting and Finance, Economics and Mathematics, Computer Science, Social Sciences and Liberal Arts, and with the newly established centers for Journalism and Islamic Finance, the Institute is well placed to fulfil its mission of "developing potential leaders, generating innovative ideas, and promoting creative solutions that address the needs of Pakistan, the region and the global community."


B. A. (Economics), Harvard University, 1975
Ph. D. (Economics), Yale University, 1981; Dissertation Title: The Demand and Supply of Funds among Agricultural Households: A Theoretical and Empirical Analysis

Summary of Experience

I am currently the Executive Director of the Institute of Business Administration in Karachi, Pakistan, having taken up this assignment in August 2016. Prior to that, I was with the World Bank in Washington DC for thirty-three years. For most of this period, I was involved in analysis and policy dialogue related to economic policy issues, initially as a technical specialist and later as a manager. I have worked primarily on countries in East Asia (for 18 years) and the Middle East and North Africa (for 13 years). My areas of interest and responsibility have covered: fiscal and monetary management, trade and competitiveness, small and medium enterprises, local government development, human development, and poverty analysis and strategy. My last managerial assignment with the World Bank was as the Country Director for the Gulf Cooperation Council countries (Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates).

Speeches & Presentations


  • Sustaining Gains in Poverty Reduction and Human Development in the Middle East and North Africa, World Bank, 2006
  • Small Firm Dynamics in East Asia, Kluwer Press, 2002 (co-edited with Shujiro Urata)
  • Deregulation and Development in Indonesia, Praeger Press, 2002 (co-edited with William James)
  • Local Government Development in Japan, Oxford University Press, 2001 (co-edited with Michio Muramatsu)
  • Democracy, Market Economics and Development: An Asian Perspective, World Bank, 2001 (co-edited with Jong-Il Yoo).

World Bank Reports

  • Egypt (2004): A Poverty Reduction Strategy for Egypt
  • Indonesia (1994): Domestic Resource Mobilization: Issues and Options
  • Philippines (1992): Issues in Domestic Resource Mobilization
  • Philippines (1990): Issues in Adjustment and Competitiveness
  • Korea (1988): Health Insurance and the Health Sector
  • Korea (1987): Managing an External Surplus: Trade and Monetary Issues
  • Korea (1985): The Management of External Liabilities

Journal & Book Articles

  • "The Determinants of Child Mortality Reduction in the Middle East and North Africa." Middle East Development Journal (co-authored with Youssouf Kiendrebeogo and accepted for publication, October 2, 2015)
  • "Public Spending and Education Attainment in the Middle East and North Africa." Review of Middle East Economics and Finance, (co-authored with Youssouf Kiendrebeogo), 11:2, 99-118, 2015
  • "Economic Growth in Egypt: Constraints and Determinants." In Journal of African Development, 2007 (co-authored with Anton Dobronogov).
  • "Trade, Foreign Direct Investment and Development in the Middle East and North Africa" in Mustapha Kamel Nabli (editor) Breaking the Barriers to Higher Economic Growth, World Bank, Washington DC: 2007.
  • "Fiscal and Public Debt Sustainability in Egypt" in Ahmed Galal and Nadeem Ul Haque (editors), Fiscal Sustainability in Emerging Markets: International Experience and Implications for Egypt, American University in Cairo Press: 2006 (co-authored with Pedro Alba and Sherine El-Shawarby).
  • "Toward a More Competitive Investment Climate in Egypt" in Heba Nassar (editor), Revisiting Egypt's Competitiveness: The Road Ahead for Building Leading Sectors, Center for Economic and Financial Research and Studies, Cairo: 2005 (co-authored with Sherine El-Shawarby.)
  • "Small Firm Dynamics in East Asia: An Overview" in Small Business Economics 18: 1-12, 2002 (co-authored with Shujiro Urata)
  • "Deregulation and Development in Indonesia: An Overview" in Farrukh Iqbal and William James (editors), Deregulation and Development in Indonesia, Praeger, USA 2002 (co-authored with Faham Rashid)
  • "The Impact of Deregulation on the Manufacturing Sector" in Farrukh Iqbal and William James (editors), Deregulation and Development in Indonesia, Praeger, USA 2002
  • "Trade and Investment Liberalization and Development in Indonesia" in Roger Grawe and Andras Inotai (editors), Trade, Integration and Transition: International Conference in Memoriam Bela Balassa, Institute for World Economics, Hungarian Academy of Sciences, Budapest: 2002.
  • "Understanding Japanese Intergovernmental Relations: Perspectives, Models and Salient Characteristics" in Michio Muramatsu, Farrukh Iqbal and Ikuo Kume (editors), Local Government Development in Post-War Japan, Oxford University Press, 2001 (co-authored with Michio Muramatsu)
  • "Local Government Development: Some Lessons from Japanese Experience" in Michio Muramatsu, Farrukh Iqbal and Ikuo Kume (editors), Local Government Development in Post-War Japan, Oxford University Press, 2001 (co-authored with Michio Muramatsu and Ikuo Kume)
  • "East Asia in the World Economy: Issues in Trade and Investment Liberalization." Research in Asian Economic Studies, 1996
  • "External Financing for Korea: The Next Phase." World Development, 16(1): 137-155, 1988
  • "The Determinants of Moneylender Interest Rates." Journal of Development Studies, 24(3):364-378, 1988
  • "Financing Korean Development," in Sung-Joo Han and Robert Myers (editors), Korea to the Year 2000, University Press, 1987.
  • "The Demand and Supply of Funds among Agricultural Households in India" in Inderjit Singh, Lyn Squire and John Straus (editors), Agricultural Household Models: Extensions, Applications and Policy. Johns Hopkins Press, 1986.
  • "The Demand for Funds among Agricultural Households." Journal of Development Studies, 20(1):68-86, 1984
  • Book Review: Underdevelopment and Agrarian Structure in Pakistan (Mahmood Hasan Khan, author); in Pakistan Journal of Applied Economics, 1:1; 113-122, 1982
  • "The Fertility Consequences of Land Reform in Pakistan" in John Montgomery, Harold Lasswell, and Joel Migdal (editors), Patterns of Policy. Transaction Books, New Jersey, 1979

Conference & Working Papers

  • "Human Development in the Middle East and North Africa: Past and Future." Paper prepared for public lecture at Centre for Arab and Islamic Studies, Australian National University, Canberra, October 2015.
  • "Why have Middle Eastern Oil-Rich Countries Performed Better than African Oil-Rich Countries?" Paper prepared for Conference on Comparative Performance of Rentier Economies, London School of Economics, October 2015.
  • "Turning the Corner or Running into a Wall?" Paper for Seminar on Global Economic Prospects, University of Evansville, February 2015.
  • "Education Attainment in the Middle East and North Africa: Success at a Cost" Policy Research Working Paper 7127, World Bank Group, December 2014 (co-authored with Youssouf Kiendrebeogo).
  • "The Reduction of Child Mortality in the Middle East and North Africa: A Success Story" Policy Research Working Paper 7023, World Bank Group, September 2014 (co-authored with Youssouf Kiendrebeogo).
  • "SME Finance Policies for Growth and Sustainability" Paper prepared for Standard and Poor's Leadership Forum, Abu Dhabi, November 2013.
  • "Islamic Institutions and Long Term Economic Performance." Paper prepared for Conference on Islam and Economic Growth, Washington DC 2011.
  • "Bank Lending to SMEs in the Middle East and North Africa Region: Recent Empirical Findings and Lessons." Paper for Seminar on Kafala and SME Lending in Saudi Arabia, Riyadh, 2011.
  • "Job Growth Without Unemployment Reduction: The Experience of Jordan." Paper co-authored with Susan Razzaz for Third IZA (Institute for the Study of Labor) World Bank Conference on Employment and Development, Morocco 2008.
  • "Commercial Microfinance in Egypt - The Case of the National Bank for Development" Paper co-authored with Nagwa Riad for World Bank conference entitled: Reducing Poverty, Sustaining Growth: What Works, What Doesn't and Why, Shanghai, 2004
  • "Korea's Debt Accumulation, Use and Management Strategies." Background paper prepared for World Development Report, World Bank, 1985
  • "Rural Savings, Investment and Interest Rates in Developing Countries: Evidence from India." Rand Corporation Note N-1763-AID, 1982
  • "Dualism, Technical Change, and Rural Finance Markets in Developing Countries" Rand Corporation Note N-1723-AID, 1981
  • "The Demand and Supply of Funds Among Agricultural Households" Rand Corporation Note N-1631-AID, 1981

Curricula Vitae