All Nizārī Ismā'īlīs now accept Prince Shah Karim Al-Husayni, the Aga Khan IV, as their Imām-i-Zaman (Imam of the Time). He is referred to in Persian as "Khudawand" (Lord of the Time), in Arabic as "Maulana" (Master) or "Hāzar Imām" (Present Imam). Karim succeeded his grandfather Sir Sultan Muhammad Shah Aga Khan III as Imām in 1957, when he was just 20 and still an undergraduate at Harvard University. He was referred to as "the Imam of the Atomic Age". The period following his accession can be characterized as one of rapid political and economic change. Planning of programs and institutions became increasingly difficult due to the rapid changes in the newly emerging post-colonial nations where many of his followers resided. Upon becoming Imām, Karim's immediate concern was the preparation of his followers, wherever they lived, for the changes that lay ahead. This rapidly evolving situation called for bold initiatives and new programs to reflect developing national aspirations in the newly independent nations.