The Finance Committee was created under Part XI of the 1994 Agreement to oversee the financing and financial management of ISA. The Committee consists of 15 members elected by the Assembly for a period of 5 years taking into account equitable geographical distribution amongst regional groups and representation of special interests. The Committee plays a central role in the administration of ISA’s financial and budgetary arrangements.
Members are expected to have qualifications relevant to financial matters who are involved in making recommendations on financial rules, regulations and procedures of the organs of ISA, its programme of work as well as the assessed contributions of its Member States.
The Finance Committee meets during the annual session of ISA and tables its report on the budget of ISA to the Assembly.
1 It is understood that Mr. Waweru will relinquish his seat in the Finance Committee after serving two and a half years (2017-2019) in favour of Mehdi Remaoun (Algeria).