The Finance Committee consist of One Chairman and a minimum of Five Members. The Chairman, nominated by his NOC, will be elected by the GA, while the Members preferably representing the 5 zones of the IMBF will be selected by the EB from the Candidates who have been nominated by their respective NOCs.

The Chairman and Members will hold office for a term of four years. The Chairman will be a Member of the EB.

The Technical Director IMBF shall be the ex-officio Member- Secretary of the Committee.

This Committee will be responsible for:

a. consideration of the financial planning and projections, budget estimates and statements of accounts prepared by the Technical Director for submission to the EB/GA;

b. the Finance Committee shall check all major expenditure incurred by the Council and all other financial matters, as may be required;

c. the Finance Committee shall be responsible for the raising of funds so that the working of the Council may be independent;

d. approval of Audited Statement of Accounts;

e. the meetings of the Finance Committee will be held as decided by the Chairman with the prior approval of the President.