The Adolfo Ibáñez University (Spanish: Universidad Adolfo Ibáñez es:Universidad Adolfo Ibáñez) (UAI) is a private university of Chile pertaining to the Adolfo Ibáñez Foundation. In 1988, according with the new educational legislation, a new university was founded on the base of the Valparaiso Business School (Escuela de Negocios de Valparaiso), an old institution for the professional teaching in business administration founded in 1953 thanks to the contribution of Adolfo Ibáñez Boggiano. The new university would take its name some decades ahead. In the Chilean higher educational scheme, UAI is a private university accredited in the country by CNAP and internationally by AACSB and AMBA. The Valparaiso Business School (Escuela de Negocios de Valparaíso), was established in 1953 under the protection of the Pontifical Catholic University of Valparaiso. It is noted for being the first educational institution in Chile to offer the business administration career, as well as one of pioneers in Latin America. In 1995, the humanistic subjects were introduced into the career to make a little change in the students of a career like Business administration.