The Institute of Management Sciences is a project of Al-Karim Educational Foundation established in Lahore in 1986 as The Pak-American Institute of Management Sciences (Pak-AIMS) with undergraduate and graduate programs in Management and Computer Sciences.

In view of its excellent performance in education over the years, Pak-AIMS was issued NOC by the University Grants Commission of Pakistan for the award of charter in 1995. Consequently, the Institute was chartered by the Government of Punjab under Punjab Ordinance XXIII of 2002.

IMS is a business school with over fourteen hundred students at its two campuses. About 110 faculty members, who teach around 170 courses in a tri-mester. Rigorous academic programmes, quality education and congenial environment make IMS an ideal choice for professional education in the country.