The University Of Lahore (or UOL) was established in 1999 as a private university by the Ibadat Educational Trust. It is accredited by the Pakistan Engineering Council (PEC), Pakistan Medical and Dental Council and Pharmacy Council of Pakistan. The university is the only private sector university to be ranked in the Times Higher Educational Supplement University Rankings as in the top 500 in the world from 2005-2008 and in top 700 in 2009 & 2010 but in 2011. The School of Accountancy and Finance is situated in Gulberg and provides education in accounting and finance. It has been given the status of Learning Partner by ICAEW (Institute of Chartered Accountants in England and Wales). The Islamabad Campus of the University of Lahore began as the Institute of Business Administration and Technology (IBADAT), set up by the IBADAT Foundation and IBADAT Educational Trust in 1998. It houses the Lahore Business School (LBS), School of Information Technology (SIT), the Pharmacy Department and the School of Engineering and Technology.