Pinoy, HK students cautioned on closed economics school

Filipino and Hong Kong students have been advised that the Philippines will not recognize an "international" business school that moved to Hong Kong from the Philippines last April, after being ordered closed in 2011. The Philippine consulate general in Hong Kong said the Philippine Commission on Higher Education (CHED) already issued a final closure order last Oct. 28 on the International Academy of Management Economics (IAME). "The Filipino and Hong Kong publics are hereby informed that the CHED has issued a final closure order dated 28 October 2011 on all programs of the (IAME), namely, Bachelor of Science in Business Administration (BSBA), Master’s degree in Business Administration (MBA), and Doctor of Philosophy in Management (PhD in Management)," it said. As such, it said the CHED ruled that effective Academic Year 2011-2012, IAME can no longer admit any student. It also said IAME should effect the transfer of all its existing students to other higher education institutions with recognized programs by the end of School Year 2011-2012, so as not to prejudice them in completing their enrolled courses for this school year. The CHED also said students who complete the academic requirements by end of School Year 2011-2012 may still be conferred their graduate and undergraduate degrees by the IAME. However, IAME has insisted it is still "open and operating," saying CHED's order to close three degrees did not mean the closure of the school. Besides, it said it has an appeal still pending in the Supreme Court. "(IAME) remains untouched, open,  operating, and admitting foreign and Filipino students in its newly innovative international degree programs recognized by the World Education Service (WES),  New York, USA, by granting equivalency to IAME international degree programs as equivalent to similar degrees granted by accredited US universities," it said in an August 13 news release. Meanwhile, IAME also posted a news release on its website dated May 7, indicating it was now a "global university" and that "is now across borders." It said it is now "beyond the jurisdiction of the Republic of the Philippines" and is now an "International School of Global University with world headquarters in Hong Kong." The news release also featured an image of a certificate of incorporation supposedly issued May 3, 2012. — LBG, GMA News