Membership of the Institute

The subscribers to the Memorandum of Association of the Institute, Fellows of the Institute, and the authorized representatives of those Banks and Financial Institutions who are admitted by the Council and who contribute to the expenditure of the Institute at the rates determined by the Council from time to time are considered members of the Institute.

Fellowship and Declaration

The Council has the authority to elect persons of distinction in banking, economics, or other allied subjects as Fellows of the Institute. Every member, upon admission, must sign a declaration agreeing to abide by the rules and regulations of the Institute as currently enforced.

Removal of Members

Any member of the Institute may be removed by the Council if they are deemed undesirable in the interest of the Institute, subject to the following conditions:

1. The Council shall first call upon the member for an explanation of their conduct and provide an opportunity to be heard in their defense.
2. A special meeting of the Council must be held specifically for this purpose.
3. At least three-fourths of the members of the Council must be present at the meeting.
4. A resolution for removal must be passed by a two-thirds majority of the members present.

Resignation

A member may resign from the Institute by providing written notice of their intention to do so to the Council.