The National Federation also confirmed that it will join the newly formed World Boxing.

SwissBoxing has cited the International Olympic Committee's decision to not allow the IBA to host the boxing tournament at Paris 2024 as the reason for terminating its membership.

"This resolution has immediate effect, but is subject to subsequent approval by the delegates' meeting," SwissBoxing said.

"The reason for this is the announcement by the International Olympic Committee that the IBA - formerly AIBA - will no longer be able to host the Olympic boxing competition for the 2024 Olympic Games in Paris, including qualifying competitions.

"The reason for this is massive allegations of corruption and breaches of ethics."

The Europeans have become the second National Federation to officially announce its resignation from IBA after USA Boxing quit in April.

Meanwhile, Boxing New Zealand revealed on Monday (May 29) that they might leave the International Federation after President Steve Hartley claimed that his country's officials were prevented from participating in the Oceania Boxing Confederation Extraordinary Congress.

Hartley also said New Zealand boxers were forced to turn their uniforms inside out to hide identification at the Youth and Junior Men's and Women's Oceania Boxing Championships in Apia. 

The official said the "blatant requirement to cover up the New Zealand Silver Fern insignia" represented "the worst insult the IBA could put our country and the mana of our athletes" and "will not be forgotten".

World Boxing was launched in April with the aim of preserving boxing's Olympic future after it was off the initial programme for Los Angeles 2028.

IBA was not involved in the organisation of the boxing tournaments at Tokyo 2020, and it is set to be the case at Paris 2024.

Boris van der Vorst, set to step down as Dutch Boxing Federation President to focus on the body described by IBA as a "rogue organisation", is part of the World Boxing Interim Executive Board.

Joining the Dutchman are representatives from Germany, Britain, the Philippines, Sweden and the United States.

The IBA, suspended by the International Olympic Committee (IOC) since 2019 due to ongoing governance concerns, suspended the National Federations of New Zealand, Germany, Sweden and The Netherlands for participating in the breakaway World Boxing.

"We share the Swiss Boxing Federation's dismay at IBA's ongoing and persistent failure to address the ‘massive allegations of corruption and breaches of ethics’ that mean it has not been trusted to manage the Olympic boxing tournaments in Tokyo and Paris and we welcome both its decision to apply for membership of World Boxing and its commitment to ensuring boxing remains at the heart of the Olympic Movement," a World Boxing statement read. 

The IBA stated that it has "deep regret" regarding SwissBoxing's membership resignation.

IBA secretary general George Yerolimpos has described the decision as a mistake.

"The example set by former IBA member USA Boxing has left their athletes without an opportunity to compete and win titles and earn money to support their love of the sport and the cost of living required to follow their dreams," Yerolimpos said.

"We now see SwissBoxing making the same mistake, and it is clear that these administrators do not think ahead and have blinders that prevent them from seeing the complete picture. 

"IBA membership is a privilege, not a right, where the IBA and its National Federation's are intent on building a prosperous future for the whole boxing family which requires a mutual commitment.

"With two members, the rogue organisation can now officially organise intimate international events while their administrators play political games rather than supporting their athletes' needs, but rather chasing personal ambitions that will never lead any initiative to success or serve the greater good of our sport."