In a statement, AIBA said its Election Committee has received a letter from the Dominican official confirming his withdrawal.

It comes just days after insidethegames revealed that the Dominican Republic Boxing Federation (FEDOBOXA) - which nominated Solano for the AIBA Presidency - has been provisionally suspended on suspicion of four disciplinary breaches after it attempted to pay membership fees for nine countries so they could vote at AIBA's Congress.

The Congress, where a new President will be elected, is scheduled to take place remotely on Saturday (December 12).

Al Otaiba's campiagn has been given a boost after the Asian Boxing Confederation President was backed by USA Boxing.

"After careful review of the 2019 International Olympic Committee’s (IOC) Lalovic Report, candidates’ manifestos/platforms, open-source public information, as well as answers to our questionnaire, we believe Mr. Otabia is most qualified candidate for this position," USA Boxing executive director Mike McAtee said. 

"He possesses the skills necessary to lead the international boxing world while addressing the challenges raised in the Lalovic Report that led to the suspension of AIBA."

The IOC suspended AIBA in 2019 and stripped it of any involvement in organising the boxing event at Tokyo 2020.

In a statement last month, the IOC warned it would "take into consideration the concerns which have been raised against some of the candidates for the AIBA Presidency and their potential impact on recognition".

More recently, IOC President Thomas Bach said this week that AIBA is "well aware" of the IOC's concerns, and that IOC chief ethics and compliance officer Pâquerette Girard-Zappelli had been in contact with the AIBA Election Committee.

Solano, who has been an AIBA vice-president for 15 years, had led FEDOBOXA for 38 years.

The Dominican's withdrawal leaves six candidates still on the ballot ahead of an election seen as crucial if AIBA is to restore its status with the IOC.

AIBA Interim President Mohamed Moustahsane, of Morocco, Russian Boxing Federation secretary general Umar Kremlev and Azerbaijan's Suleyman Mikayilov are among those standing for President.

Al Otaiba of the United Arab Emirates, Dutch Boxing Federation President Boris van der Vorst and German referee Ramie Al-Masri are also in the running.

In October, insidethegames revealed that FEDOBOXA had transferred a total of $4,800 (£3,700/€4,000) to the Americas Boxing Confederation (AMBC) to cover the dues of the nine National Federations.

AMBC President Osvaldo Bisbal reported the "disturbing case" of the payment, alleging FEDOBOXA told the AMBC the money "was to pay for the membership fees for nine National Federations in order for them to be eligible for the upcoming Congress".

The Argentinian, like Solano a vice-president of AIBA, also suggested FEDOBOXA had asked for the source of the money to be covered up as it "requested AMBC to issue an individual receipt to each National Federation that AMBC pretended to receive each fee from each of these nine National Federations".

Despite the allegations, the AIBA Election Committee cleared Solano to stand for President.

The election rules state candidates "should in no case and under no pretext give presents or offer donations or gifts or grant advantages or benefits of whatever nature to or at the request of any party who will vote in, or who may otherwise influence, an election".

FEDOBOXA denied wrongdoing and claimed that Solano was unaware of the payment and would have warned them against it had he known.

Last week, AIBA suspended nine countries over the matter - the Dominican Republic, Antigua and Barbuda, Bermuda, Haiti, Suriname, Domincia, Saint Maarten, the US Virgin Islands and the Bahamas.

Anguilla was found not guilty of the charges by the AIBA Disciplinary Commission.