The Institute of Business Studies was established in 1995 under the Faculty of Human Sciences as a model center for basic business education and management career. Education at the IBS has two fundamental aspects-one, technical and the other, human. As far as the technical aspect is concerned, the course curricula of IBS match well with those of all public and private universities of the country, as well as with some reputed universities of the United Kingdom and the U.S.A.

The main objective of the Institute is to produce honest and sincere business managers and organizers to fill in the gap and vacuum created by a large body of dishonest people who stand as a hindrance to the desired economic development of the country. Hence it also aims at producing business graduates having required knowledge, skill and ability to cope with the challenging business environment and who are sensitive to religious and cultural values and will contribute towards management of the country. IBS is governed by the Board of Governors of which Vice Chancellor is the Chairman.

The IBS offers the BBA and the MBA programmes with specialization (major) in Management, Accounting, Marketing, Finance, Management and Information Services, Insurance and Islamic Banking and Human Resource Management. The BBA programme takes four years to complete and follows an integrated course system. Out of the required 135 credits, 126 are in normal BBA courses and the remainder in English, General Science and Islamic History and Culture.

The credit in MBA programme for the professionals and executives vary from 36 to 48 credits and for the general students from 60 to 87 credits. Till now 190 students obtained BBA and MBA degrees and 860 students are attending the courses under the able guidance of 39 teachers. It has a rich library with 5640 books.