Moustahsane told insidethegames that it would be "up to the National Federations" to either "immediately" elect a new President or allow him to continue in the role by voting in favour of statute changes at a crucial Extraordinary Congress in Lausanne on March 20.

The Congress will be held to vote on updated statutes for the embattled organisation, suspended as the Olympic governing body for boxing in June.

Under the current constitution, the Moroccan has to leave the position on March 29, exactly 365 days since his election as Interim President.

It is possible this rule could be changed as part of the new statutes, which AIBA's leadership hope will be approved by the membership at the Congress.

Moustahsane took over after the formal resignation of Gafur Rakhimov, whose election as President triggered the crisis at AIBA and led to the International Olympic Committee (IOC) suspending its recognition.

The Moroccan said he would step down but withdrew his resignation at an Executive Committee meeting in Istanbul in August.

"We will have elections, but at the moment the main point is to have new statutes and then we will have elections," Moustahsane told insidethegames.

"During the Congress, we will discuss with National Federations - it will be them who decide when we have elections.

"We hope this will happen as soon as possible, as it is time for AIBA to have a stable situation.

"If they want to extend the term and continue the work to make sure we will achieve all the requirements, it will be their decision.

"If they want to elect a new President immediately, if they want to make an extension, it is also their decision."

Moustahsane rejected claims from Nenad Lalović, the head of the IOC committee which is monitoring AIBA, that the organisation has not made any concrete progress since it was suspended.

Lalović told insidethegames that the group had expected more from AIBA and the body should "work faster..to save themselves".

He claimed the IOC "does not know if there is any possibility of clearing AIBA’s debts and at this stage we have no knowledge of a financial plan".

AIBA is around $16 million (£12 million/€14 million) in debt following years of turmoil, but Moustahsane claimed it had taken steps towards repairing its financial situation by cutting costs, seeking sponsors and discussing potential solutions with its creditors.

"From my position, I see we have made a lot of progress," Moustahsane said.

"We are building a financial plan for five years.

"It is not finalised yet, but we are working on it by discussing with our creditors and trying to find a way to generate money.

"We are trying to reduce our costs, which can have a big impact on the financial situation of AIBA, and we are trying and discussing with some sponsors to help AIBA get a correct cash flow.

"We are asking confederations and federations to host meetings, this will save a lot of costs.

"We don’t have a lot of costs now as we have reduced the number of staff and have given more responsibility to the Confederations.

"We have had good results with that and we will continue in that direction."