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A nine-member committee was formed. The committee members were:


Chairman Kashem Humayun Dainik Sangbad
Vice Chairman Saiful Amin Asia Week
Executive Director Mollah Amzad Hossain Banglabazar Patrika
Director (Research and Training) Arun Karmakar Prothom Alo
Director (Finance and Development) Masumur Rahman Khalili Inquilab
Director (Data Bank) Ruhul Amin Rushd Bhorer Kagoj
Director (Entertainment and Welfare) Sagar Sarwar Jugantar
Executive Members Akram Hossain Ittefaq
  Badiul Alam Financial Express

The committee formulated a constitution for the organization. However, no major activity could be carried out. The FERB held its first annual general meeting (AGM) and election on February 10, 2002. The committee elected was:


Chairman Badiul Alam Financial Express
Vice Chairman Akram Hossain Khan Ittefaq
Executive Director Mollah Amzad Hossain Matribhumi
Director (Research and Training) Sagar Sarwar Ittefaq
Director (Finance and Development) Sirajul Islam Kadir Manabzamin
Director (Data Bank) Zahid Newaz Jewel UNB
Director (Entertainment and Welfare) Shahnaj Begum Independent
Executive Members Kashem Humayun Sangbad
  Masumur Rahman Khalili Inquilab
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