Technical assistance and a grant from the USAID Iraq Financial Development Project enabled three Iraqi universities and their business and economics schools to apply for membership of the prestigious Association to Advance Collegiate Schools of Business (AACSB International).

In December 2011, the AACSB International granted member-ship approval for the Iraqi universities. The recipient universities include Baghdad University, Al Mustansiryia University, and Al Mansour University College, attended by several thousands of young Iraqi students.

Following a comprehensive evaluation of their current programs in finance and business, the three Iraqi universities were admitted as the newest members of the AACSB. As members, the universities can begin the process of becoming fully accredited, a lengthy process that requires comprehensive review of their programs, administration, financial resources, and reporting mechanisms.

Universities must meet stringent standards before they can receive full accreditation. According to Dr. Jerry Trapnell, executive Vice President and chief accreditation officer of AACSB International, “Schools must not only meet specific standards of excellence, but their deans, heads of business units, and academic and non-academic staff must make a commitment to ongoing improvement to ensure that the institution will continue to deliver the highest quality of education to students.”

This is an important milestone for the Iraqi business schools. Membership acceptance is a major step towards the objective of developing modern business and finance curricula, by improving the quality and teaching methods available to Iraqi students. Standardizing degree programs at business schools throughout Iraq will enable Iraqi students to receive internationally recognized degrees, and become more competitive on the job markets, not only in their country, but worldwide.