BEIJING, March 23 (Xinhua) -- International Boxing Federation(AIBA) president Gafur Rahimov has resigned on the eve of the decisive IOC executive meeting,

In a statement, Rahimov rejected the allegations of him having ties to organized crime and announced his resignation.

"I attest and confirm that the allegations against me were fabricated and based on politically motivated lies; I trust that the truth will prevail," he said in the statement.

"Nevertheless, I have always said that I would never put myself above Boxing, and as President, I have a duty to do everything in my power to serve our sport and our athletes," said he.

"Given the current situation, I have informed the AIBA Executive Committee of my intent to step aside as AIBA President in accordance with the AIBA Statutes and Bylaws," the statement read.

Under the AIBA Statutes and Bylaws, the president can renounce to exercise his powers and to be replaced by an Interim President.

AIBA announced that the AIBA President/ AIBA office will not provide any further comments prior to IOC Executive Meeting, which will be held from March 26 to 28.

Rahimov, an Uzbek businessman who has been accused by the US authorities of having ties to organized crime, was elected as the president of AIBA in November last year.

IOC warned the boxing governing body to resolve "grave" issues many times before the election. The IOC executive board decided to "freeze the planning for the Olympic boxing tournament at Tokyo 2020" following the election.