CONSTITUTION AND BYLAWS

Preamble

We, the members of the Artificial Intelligence Management and Finance Institute (AIMFIN), establish this Constitution and Bylaws to promote excellence in applying Artificial Intelligence (AI) within the management, finance and other sectors. AIMFIN is committed to fostering innovation, upholding ethical practices, and supporting professional development to shape the present and the future of AI in business, Management, finance and other related fields.

Article I: Name and Objectives

Section 1: Name

The Institute shall be known as Artificial Intelligence Management and Finance Institute (AIMFIN-Institute).

Section 2: Objectives
  1. To Promote And Foster Academic Excellence In Artificial Intelligence And Management
  2. Promote Interdisciplinary Research To Address Societal Challenges And Advance Knowledge Home And Abroad
  3. Provide Comprehensive Professional Development Opportunities For AI, Management, Finance and other related fields.
  4. Cultivate Ethical Leadership By Integrating Principles Of Accountability, Transparency, And Societal Impact.
  5. Facilitate Knowledge Dissemination Through Publications, Conferences, And Public Outreach Activities.
  6. Establish Collaborative Partnerships With Academic Institutions, Research Organizations, And Industry Stakeholders.
  7. Emphasize Character Formation, Ethical Leadership, And Social Responsibility In Student And Professional Development.
  8. Prepare Global Citizens Through Cultural Competence And Intercultural Understanding.
  9. Enhance Technical Skills Through Specialized Courses And Experiential Learning Opportunities
  10. Foster Diversity, Inclusion, And Equitable Access To Educational And Professional Opportunities.

Article II: Membership Structure

Membership Authorization

Admission to any category of membership in the Institute shall be subject to the approval of the Executive Council. All applications will be reviewed according to the Institute’s established criteria, and no membership will be considered valid without the express endorsement of the Executive Council (Governing Council). The Council retains full discretion in granting or withholding membership based on its assessment of eligibility and alignment with the Institute’s objectives and values.

Section 1: Categories of Membership & Requirements

Article II: AIMFIN Membership Categories and Requirements

  1. Student Member
    • Academic Requirements: Enrolment in an undergraduate or postgraduate program related to AI, finance, business management, or a related field.
    • Professional Experience: None required.
    • Work Experience: Not applicable; focus is on academic achievements and potential.
  2. Associate Member
    • Academic Requirements: Completion of a relevant degree or ongoing studies in AI, finance, business management, or a related field.
    • Professional Experience: Limited experience, typically less than 2-3 years in a relevant role.
    • Work Experience: Early career roles or internships related to AI or finance.
  3. Professional Member
    • Academic Requirements: Degree(s) in AI, computer science, finance, business, management, or a related field.
    • Professional Experience: Typically, 3-7 years of experience in relevant roles with demonstrated achievements.
    • Work Experience: Significant experience in AI applications, financial management, or business strategy, with a proven record of accomplishment of contributions.
  4. Corporate Member
    • Academic Requirements: Not applicable; focused on organizational qualifications.
    • Professional Experience: Experience in implementing AI or financial and management strategies within the organization.
    • Work Experience: Demonstrated success in AI integration or financial management within the company, with a commitment to innovation and ethical practices.
  5. Honorary Member
    • Academic Requirements: Not specifically required; recognition based on achievements.
    • Professional Experience: Extensive and impactful contributions to the field of AI, finance, business management, data science, statistics, business analytics or other related field.
    • Work Experience: Distinguished career with exceptional contributions to the industry or to AIMFIN often recognized through awards or accolades.
  6. Fellows

    Admission into each category of Fellow of AIMFIN shall be based on expert recommendation, member application, or official invitation, and shall be subject to the final approval of at least two-thirds (2/3) of the members of the Executive Council of AIMFIN.

    • Academic Requirements: Advanced degree(s) preferred, though not mandatory; recognized for their expertise and contributions.
    • Professional Experience: Extensive experience (10+ years) with significant accomplishments and impactful contributions to the field of AI, finance, business, management, data science, statistics, business analytics or other related fields.
    • Work Experience: High-level positions, leadership roles, and notable contributions to the field.

    Fellowship of AIMFIN

    Fellowship of AIMFIN is the highest level of membership of AIMFIN. It is exclusively for professionals with over a decade of leadership or academic experience and achievements in information technology, finance, business, management or a related field. Membership of AIMFIN at the level of fellow requires outstanding achievements in the field of intending fellows. The Board of AIMFIN shall appoint recognized national or international experts in the field of such candidates who shall individually review the candidates’ achievements in the field and make recommendations to AIMFIN Board for consideration as well as possible ratification. Fellowship is granted based on expert reviews, with at least two positive recommendations out of three experts appointed by the Executive Council. A negative report concerning fundamental requirements such as character or field achievements automatically disqualifies the candidate.

    Categories of Fellow Membership

    Based on the field and expertise of candidates, fellowship of AIMFIN can be in any of the three level, depending on the relevant qualifications and experiences:

    1. Managerial (Executive) Fellow: Candidates must have outstanding global impact in Information technology, finance, management or related field. They must have spearheaded major projects, innovations, or policies that significantly influenced industry practices with probative evidence of achievements in their fields.
    2. Doctoral Fellow: Awarded to individuals with a doctorate and a strong record of original research, high-impact publications, or patents in Information technology, finance, management or a related field. Candidates must have made recognized contributions to advancing knowledge through research, innovation, or thought leadership practices with probative evidence of achievements in their fields.
    3. Professorial Fellow: Reserved for academics and researchers with an outstanding global impact in Information technology, finance, or management. Candidates must have a distinguished career marked by pioneering research, and significant contributions to shaping academia, policy, or industry standards practices with outstanding achievements in their fields. For esteemed academics and researchers with outstanding contributions. This includes academic or industrial professors, consultants, and researchers who have demonstrated excellence in AI, finance, or business, management or related field.
Section 2: Eligibility Criteria
  • Qualifications: Demonstrated qualifications or a strong interest in AI, Computer Science, Data science, Business, finance, Management or other related fields.
  • Ethical Adherence: Commitment to uphold AIMFIN’s ethical guidelines and standards.
  • Application: Successful completion of the membership application process as defined by AIMFIN.
Section 3: Membership Rights and Responsibilities

1. Rights:

  • Participate in AIMFIN events, workshops, and seminars.
  • Access AIMFIN’s resources, including research publications and training materials.
  • Vote on matters presented during Annual General Meetings (AGM).
  • Run for positions within the Executive Council, subject to eligibility.

2. Responsibilities:

  • Uphold the values and ethical standards of AIMFIN.
  • Participate actively in AIMFIN initiatives and contribute to the community.
  • Maintain accurate and up-to-date membership information.
  • Fulfill any other obligations as defined by AIMFIN’s bylaws.

Article III: Governance Structure

Section 1: Executive Council

The Executive Council is the highest policy-making and governing body of the Artificial Intelligence Management and Finance Institute (AIMFIN). It is responsible for formulating strategic policies, guiding institutional direction, and ensuring good governance in line with AIMFIN’s mission, vision, and global standards.

The Executive Council shall consist of the following officers:

  1. President
    • Provides strategic leadership and global representation for AIMFIN
    • Promotes international collaborations and drives the institute's mission and long-term vision
  2. Chairman of the Executive Council
    • Presides over Executive Council meetings
    • Facilitates decision-making and ensures compliance with AIMFIN’s Constitution and Bylaws
  3. Executive Director / Registrar-General
    • Responsible for day-to-day administration and policy execution
    • Oversees membership processing, professional certifications, and institutional compliance
  4. Vice President (Research & Innovation)
    • Leads academic programs, research initiatives, and innovation development
    • Oversees journals, conferences, and knowledge dissemination
  5. Dean of Academic

    The Dean of Academics serves as the chief academic officer responsible for the strategic leadership, development, and quality assurance of all academic programs and activities of AIMFIN.

  6. Registrar
    • Maintains and updates member records and institutional databases
    • Oversees documentation, certification processing, and academic record
  7. Director (Operations)
    • Manages all internal operations and support services
    • Ensures administrative efficiency and policy implementation across departments
  8. Secretary
    • Keeps accurate records of Executive Council proceedings
    • Handles all formal communications and meeting logistics
  9. Treasurer
    • Oversees financial planning, budgeting, and reporting
    • Ensures accountability and adherence to financial policies
  10. Director of Strategy and International Partnerships
    • Develops strategic growth initiatives and partnerships with global institutions
    • Leads expansion and international accreditation efforts
  11. Director of Membership and Professional Development
    • Oversees membership growth, engagement, and continuing professional education
    • Coordinates workshops, seminars, and fellowship programs
  12. Director of Information and Communications Technology (ICT)
    • Manages AIMFIN’s digital infrastructure and online platforms
    • Leads development of tech-driven services and innovation tools
  13. Director of Ethics and Compliance
    • Ensures adherence to professional ethics, conduct standards, and institutional regulations
    • Investigates and resolves disciplinary and compliance matters
  14. Director of Marketing and Public Relations
    • Manages AIMFIN’s brand identity, outreach, and media relations
    • Promotes awareness and public engagement initiatives
Section 2: Advisory Board
  1. Composition: The Advisory Board shall comprise senior fellows, esteemed academics, and industry leaders with significant experience in AI, computer science, management, finance, or related fields.
  2. Functions:
    • Provide strategic direction and oversight to AIMFIN.
    • Advise on policy development, program initiatives, and organizational growth.
    • Facilitate connections with industry partners and academic institutions.

Article IV: Functions and Responsibilities

Section 1: Training and Certification
  1. Course Development: Design and deliver comprehensive courses on AI applications in management, finance, and other fields.
  2. Certification Programs: Offer certifications that are recognized and valued by industry professionals and organizations.

Section 2: Research and Development

  1. Encouragement of Research: Promote and support studies focusing on ethical AI applications and innovative solutions in AI and finance.
  2. Publication: Disseminate research findings through journals, reports, and conferences to advance knowledge in the field.
Section 3: Professional Development
  1. Events: Organize workshops, seminars, conferences, and webinars to facilitate learning and professional growth.
  2. Mentorship Programs: Establish mentorship opportunities connecting experienced professionals with emerging talent in AI and finance.
Section 4: Ethics and Compliance
  1. Framework Development: Create and maintain frameworks to ensure the ethical use of AI in all applications.
  2. Monitoring: Regularly assess and monitor adherence to ethical guidelines and standards within AIMFIN’s activities.

Article V: Meetings

Section 1: Annual General Meeting (AGM)
  1. Frequency: Held once a year.
  2. Purpose: Review the institute’s activities, present financial reports, and set goals for the upcoming year.
  3. Participation: Open to all members, who are entitled to vote on key issues and amendments.
Section 2: Quarterly Executive Meetings
  1. Frequency: Held quarterly.
  2. Purpose: Monitor progress, address operational challenges, and oversee ongoing projects.
  3. Attendance: Mandatory for Executive Council members and optional for other key stakeholders.

Article VI: Finance

Section 1: Funding Sources
  1. Grants and Donations: Financial support from governmental bodies, private organizations, and individual donors.
  2. Revenue from Programs: Income generated from training programs, certifications, workshops, and other educational initiatives.
Section 2: Budgeting and Reporting
  1. Budget Preparation: The Treasurer, in collaboration with the Executive Council, shall prepare an annual budget outlining projected income and expenditures.
  2. Financial Reporting: Present transparent and detailed financial reports during the AGM and Executive Council meetings.
  3. Audit: Conduct regular financial audits to ensure accountability and transparency in all financial matters.

Article VII: Amendments

1. Proposal: any member of AIMFIN may propose Amendments to the Constitution and Bylaws.

2. Notice: Proposed amendments must be submitted in writing and circulated to all members at least 30 days before the AGM.

3. Approval: Amendments require a two-thirds majority vote of the members present at the AGM to be adopted.

4. Implementation: Approved amendments shall take effect immediately unless specified otherwise.

Article VIII: Ethical Guidelines

Section 1: Core Ethical Principles

AIMFIN members shall uphold the following principles:

  • 1. Integrity: Act honestly and transparently in all professional and academic dealings.
  • 2. Accountability: Take responsibility for actions and the consequences of AI-driven decisions.
  • 3. Fairness: Ensure impartiality and avoid discriminatory practices in all AI applications.
  • 4. Confidentiality: Safeguard sensitive data and respect the privacy of individuals and organizations.
  • 5. Professionalism: Maintain high standards of conduct and continually enhance professional knowledge.

Section 2: Ethical Use of AI in Business, Finance, Management and Related field.

  • 1. Enhancement of Fairness: Utilize AI tools to promote fairness, accuracy, and inclusiveness in decision-making processes.
  • 2. Transparency: Ensure transparency in AI-driven processes, including the explainability of AI algorithms where applicable.
  • 3. Avoidance of Deception: Refrain from any application of AI that could manipulate or deceive stakeholders, customers, or partners.

Section 3: Avoiding Bias in AI Systems

  • 1. Algorithm Audits: Conduct thorough audits of AI algorithms to identify and mitigate biases.
  • 2. Diverse Data Sets: Promote the use of diverse data sets to ensure equitable outcomes across different demographics.
  • 3. Interdisciplinary Collaboration: Foster collaborations across disciplines to enhance the fairness and objectivity of AI solutions.

Section 4: Data Privacy and Security

  • 1. Compliance: Adhere strictly to local and international data protection laws.
  • 2. Cybersecurity Measures: Implement robust cybersecurity protocols to protect against unauthorized access to data and AI systems.
  • 3. Education: Educate clients and stakeholders about the importance of data privacy and their rights.

Section 5: Research and Development Ethics

  • 1. Responsible Publishing: Publish AI-related research findings responsibly, ensuring accuracy and proper attribution of intellectual property.
  • 2. Ethical Development: Avoid developing or supporting AI systems intended for harmful or illegal purposes.
  • 3. Sustainable Innovation: Commit to fostering innovation that benefits humanity and aligns with sustainable development goals.

Section 6: Continuous Ethical Oversight

  • 1. Ethics Review Committee: Establish a committee to:
    • Monitor compliance with AIMFIN’s ethical guidelines.
    • Address complaints and disputes related to unethical conduct.
    • Provide regular updates and training on emerging ethical issues in AI.

Section 7: Professional Integrity in Membership

  • 1. Honesty in Representation: Members shall avoid misrepresenting their qualifications or AIMFIN credentials.
  • 2. Conflict of Interest: Disclose any conflicts of interest promptly to relevant parties.
  • 3. Disciplinary Actions: Members violating AIMFIN’s ethical guidelines may face disciplinary actions, including suspension or revocation of membership.

Section 8: Commitment to Diversity and Inclusion

  • 1. Diverse Community: AIMFIN values a diverse community and shall promote inclusive practices in training, hiring, and membership selection.
  • 2. Varied Perspectives: Encourage diverse perspectives in AI development to reflect varied cultural, social, and professional contexts.

Section 9: Reporting and Accountability

  • 1. Reporting Mechanism: Members are encouraged to report unethical practices observed in the use of AI within or outside AIMFIN.
  • 2. Confidential Review: Reports will be reviewed confidentially, and whistleblowers shall be protected against retaliation.

Article IX: Course Structures

AIMFIN offers a variety of courses tailored to different levels of expertise and professional needs:

  • 1. Professional Membership Training: AIMFIN offers comprehensive courses and assignments tailored for Student Members, Associate Members, and Professional Members. However, admission into honorary members, corporate members, the Fellow, Doctoral Fellow, and Professorial Fellow categories are primarily based on educational qualifications, professional experience, and verifiable achievements, rather than participation in training programs.
  • 2. Professional Diplomas: Specialized diplomas focusing on application of AI in Business, management, financial technology, and related field.
  • 3. Short Training Programs: Intensive courses concentrating on AI applications in management, finance, and related fields.

Article X: Executive Responsibilities

Section 1: Executive Director
  1. Leadership and Strategic Management:
    • a) Develop and implement strategic plans to achieve the institute’s objectives.
    • b) Serve as the chief executive responsible for overseeing all activities of the institute.
    • c) Act as the primary spokesperson and representative for AIMFIN at public and private events.
  2. Operational Oversight:
    • a) Supervise daily operations, ensuring alignment with AIMFIN's mission and values.
    • b) Coordinate with executive officers, staff, and committees to ensure efficient execution of programs and initiatives.
    • c) Monitor progress and performance metrics for all organizational projects.
  3. Financial and Resource Management:
    • a) Oversee the institute's financial operations, including budgeting, fundraising, and resource allocation.
    • b) Approve expenditures within the limits established by the Executive Council.
    • c) Identify and secure funding sources, including sponsorships, grants, and partnerships.
  4. Program Development and Implementation:
    • a) Lead the development and delivery of AIMFIN’s training programs, workshops, and certifications.
    • b) Ensure that the curriculum meets current industry demands in AI, Finance, management, business and related fields.
    • c) Promote innovative approaches to AI-powered learning and professional development.
  5. Membership Growth and Retention:
    • a) Develop strategies to recruit and retain members across all categories.
    • b) Ensure member benefits are clearly communicated and delivered.
    • c) Foster engagement through networking events, newsletters, and online platforms.
  6. Governance and Compliance:
    • a) Work closely with the Executive Council to ensure AIMFIN adheres to its constitution and ethical guidelines.
    • b) Ensure compliance with legal, regulatory, and ethical standards in all operations.
    • c) Prepare and present reports to the Executive Council and members during meetings.
  7. Staff and Volunteer Management:
    • a) Recruit, train, and manage staff, volunteers, and external consultants.
    • b) Foster a positive and inclusive workplace culture that aligns with AIMFIN’s values.
    • c) Conduct performance evaluations and provide support for professional development.
  8. Stakeholder Engagement:
    • a) Build and maintain relationships with industry partners, academic institutions, and regulatory bodies.
    • b) Actively seek collaborations that advance AIMFIN’s mission.
    • c) Represent AIMFIN in national and international forums to promote its programs and initiatives.
  9. Innovation and Future Planning:
    • a) Identify emerging trends in AI and finance to position AIMFIN as a leader in the field.
    • b) Develop long-term plans for sustainability and growth.
    • c) Drive initiatives that enhance AIMFIN’s reputation as a trusted and innovative institution.
Section 2: President
  1. Strategic Leadership:
    • a) Provide overall vision and strategic direction for AIMFIN.
    • b) Represent AIMFIN in national and international forums to enhance its visibility.
  2. Governance Oversight:
    • a) Ensure the organization operates within its constitution and ethical guidelines.
    • b) Chair meetings of the Executive Council and the Annual General Meeting (AGM).
  3. Decision Making:
    • a) Resolve disputes or critical issues requiring executive authority.
    • b) Approve key organizational initiatives, programs, and policies.
Section 3: Vice President (Operations)
  1. Operational Oversight:
    • a) Supervise day-to-day operations, ensuring smooth execution of programs.
    • b) Oversee administrative functions and staff management.
  2. Logistics and Planning:
    • a) Manage the planning and execution of workshops, conferences, and training sessions.
    • b) Ensure proper allocation of resources for AIMFIN projects.
  3. Member Engagement:
    • a) Develop and implement strategies to grow and maintain membership.
Section 4: Vice President (Research & Innovation)
  1. Research Leadership:
    • a) Oversee research activities in AI and financial management.
    • b) Foster collaborations with academic institutions and industry stakeholders.
  2. Innovation Development:
    • a) Promote the adoption of innovative AI tools and practices.
    • b) Lead projects to explore emerging trends in AI and finance.
  3. Publications:
    • a) Supervise the development of AIMFIN’s journals, research papers, and reports.
Section 5: Secretary
  1. Administrative Functions:
    • a) Prepare and circulate meeting agendas, minutes, and reports.
    • b) Maintain accurate records of membership, activities, and communications.
  2. Correspondence:
    • i) Handle official communication with members, partners, and stakeholders.
    • ii) Draft official documents, including notices, proposals, and agreements.
  3. Support:
    • i) Assist the President and other executives in carrying out their duties.
Section 6: Treasurer
  1. Financial Management:
    • i) Oversee AIMFIN’s finances, including budgets, accounts, and audits.
    • ii) Ensure proper allocation and monitoring of funds.
  2. Revenue Generation:
    • i) Develop strategies to secure funding through memberships, grants, and partnerships.
  3. Transparency:
    • i) Present financial reports at Executive Council meetings and the AGM.
    • ii) Ensure compliance with financial regulations and ethical standards.
Section 7: Registrar
  1. Membership Management:
    • a) Maintain an accurate database of members across all categories.
    • b) Manage member registrations, renewals, and updates.
  2. Documentation:
    • i) Ensure proper documentation of member applications, certifications, and renewals.
    • ii) Maintain records in compliance with data protection regulations.
  3. Compliance Monitoring:
    • i) Verify member eligibility and adherence to AIMFIN’s ethical guidelines.
    • ii) Coordinate with the Ethics Review Committee to address compliance issues.
  4. Coordination:
    • i) Work with the Executive Council to streamline membership-related policies and initiatives.
    • ii) Facilitate communication between members and the Executive Council.
  5. Reporting:
    • i) Present membership statistics and trends at Executive Council meetings and the AGM.
    • ii) Prepare reports on membership growth, retention, and engagement.
Section 8: Advisory Board (Non-Executive Role)
  1. Strategic Guidance:
    • a) Provide expert advice to the Executive Council on strategic initiatives.
    • b) Review and recommend improvements to programs and policies.
  2. Industry Partnerships:
    • a) Leverage networks to establish partnerships with corporations and educational institutions.
    • b) Facilitate introductions and collaborations that benefit AIMFIN.
  3. Oversight:
    • a) Ensure the long-term sustainability and relevance of AIMFIN's activities.
    • b) Monitor industry trends and advise on necessary adaptations.

Article XI: Dissolution

  1. Procedure:

    The decision to dissolve AIMFIN must be proposed by the Executive Council and approved by a three-fourths majority vote at the AGM.

  2. Asset Distribution:

    Upon dissolution, any remaining assets shall be distributed to organizations with similar objectives or to charitable institutions as determined by the Executive Council.

Article XII: Miscellaneous Provisions

  1. Conflict of Interest:

    Members of the Executive Council must disclose any potential conflicts of interest and recuse themselves from related decisions.

  2. Non-Discrimination:

    AIMFIN shall operate without discrimination based on race, gender, age, religion, nationality, disability, or any other protected status.

  3. Indemnification:

    AIMFIN shall indemnify its officers and members against liabilities incurred in good faith while performing their duties, fully permitted by law.

  4. Severability:

    If any provision of this Constitution and Bylaws is found to be invalid or unenforceable, the remaining provisions shall continue in full force and effect.