 UIT had its genesis due to an endowment from the Hasham family of the Memon community in remembrance of Mohammad Usman Hasham, son of Haji Hasham, a tycoon and a philanthropist.Haji Hasham started his business career at the age of 11 in India early in the 20th century.After moving to Karachi in 1936, he started to expand his business.