Is it a good bet to opt an MBA program not listed in FT and Economist Ranking
but enjoys the AACSB (out of USA) and/or AMBA and/or EQUIS in the countries like Canada,Australia,New Zealand,Belgium,Ireland.

I think this depends on what you are looking for. In terms of accreditation, EQUIS and AACSB are the most important because they operate at the school level and guarantees that the school understands best practise and has successfully implemented a plan for maintaining it. That's a different goal from the rankings, which are focussed on the outcomes for students rather than what happens in the schools.

Schools with either of these are well run. Having more than one really says more about the degree of global scope of the student base. AMBA is a programme-level accreditation and, for the MBA, is a guarantee that students have three years work experience. However it does not assure the institutional strength of a school, in the was the AACSB and EQUIS do. As a result some AMBA schools can fly in entertaining lecturers for block weeks, but lack the deeper educational experience and networks that come from having mostly on-campus professors and researchers: CIIM, Hult, Gisma and MSM are great examples.

Academically, I think you'll get a robust experience at any triple-accredited school. However, that academic strength does not mean that the firm is successful at placing international students into their domestic job market, especially since that is affected by work permit rules and macroeconomic trends. Most students who want an MBA want to find work, and that is why the rankings are useful and important.

On a macroeconomic level, surely Canada and Australia are more attractive than Belgium or Ireland?

Either way, to compare these schools take a look at How to use LinkedIn to find the best school www.find-mba.com/board/33571

[Edited by Duncan on Jul 26, 2015]

My sincere thank to Duncan

Is it a good bet to opt an MBA program not listed in FT and Economist Ranking
but enjoys the AACSB (out of USA) and/or AMBA and/or EQUIS in the countries like Canada,Australia,New Zealand,Belgium,Ireland.