The meeting came two days before AIBA learns whether it will be stripped of its recognition at a crucial gathering of the IOC Executive Board in Lausanne.

The IOC Inquiry Committee – launched in November amid concerns with AIBA’s governance, finances, refereeing and judging, and chaired by Nenad Lalović – is due to present its final report to the Executive Board at the meeting on Wednesday (March 22). 

It is believed the IOC is likely to sanction AIBA, with a removal of its recognition among the options.

This would mean AIBA would not be able to organise the boxing tournament at next year's Olympic Games in Tokyo or the qualification system.

AIBA says a number of areas were discussed during today’s meeting, including its "significant progress in regards to finance, governance and refereeing and judging".

It claims to have provided the IOC Inquiry Committee with insights into its complete transformation of the organisation, explaining the "improvements made and assessment tools put in place that will ensure the continued positive work" that has been done to rebuild all areas of it.

Additionally, the AIBA team is said to have further responded to the last outstanding points raised by the Committee.

"We had a very productive meeting with the IOC Inquiry Committee today and remain confident that Mr. Lalović and his team will be able to positively report back to the IOC Executive Board in a few days’ time," Moustahsane said.

"We have done everything in our power to work with the IOC and all of our Olympic partners, and we remain optimistic about the future of Olympic boxing and AIBA’s ability safeguard this great sport."

Last week, members of the AIBA Executive Committee agreed to put on hold plans to sue the IOC but expressed concern about the timing of today's meeting.

insidethegames understands the Executive Committee did not vote on plans to sue the IOC if AIBA is stripped of its Olympic recognition and banned from any involvement in the boxing event at Tokyo 2020 at an extraordinary meeting in Lausanne on Saturday (May 18).

It is thought, however, that the five AIBA vice-presidents – the heads of the respective confederations – plus Moustahsane and executive director Tom Virgets are likely to convene after the IOC Executive Board announces whether AIBA will remain as organisers of the tournament at Tokyo 2020 on Wednesday to discuss the next steps.

Legal action remains a possibility, although Executive Committee members are wary of the consequences that might have for the future of AIBA.

The lawsuit was on the initial agenda for Saturday's meeting before it was swiftly altered after it was leaked to media.

An offer from influential Russian Umar Kremlev, who attended the meeting, to personally clear AIBA's $16 million (£12.6 million/€14.3 million) debt was also discussed.

The AIBA Executive Board said it would conduct due diligence on the offer before deciding whether or not to accept it.

Gafur Rakhimov's election as President was the catalyst for the IOC launching the inquiry into AIBA.

Rakhimov has been described as "one of Uzbekistan's leading criminals" and remains on the United States Treasury Department sanctions list but denies wrongdoing.

He stepped aside following months of negative publicity in March, paving the way for Moustahsane's election.