The Board of Directors is composed of 20 members, elected by the General Assembly in addition to the two coordinators (ERF and IM). Ten members of the Board represent the 10 Mediterranean partners and the other 10 represent countries of the European Union. The Board of Directors is renewed by half every year.
The list of members of the Board of Directors of FEMISE for the year 2016 is as follows:
President
| Egypt |
 Economic Research Forum Ibrahim Elbadawi |
| Board Members |
Algeria Faculté d’économie et de gestion, Université d’OranNajat Zatla |
| Belgium |
 ULB-CEB Khalid Sekkat |
| Denmark |
| Luca, Gibelli, Roskilde University |
| Egypt |
 American University of Cairo Mona SAID |
| Finland |
 University of Tampere Tuomo Melasuo |
| France |
| Vacant |
| Germany |
 DIW Berlin, German Institute for economic research Alfred Steinherr |
| Israel |
 Leonard Davis Institute of International Relations,The Hebrew University Alfred Tovias |
| Italy |
 CELPE -Interdepartemental Centre for Research in Labour Economics and Economic Policy Anna Ferragina |
| Jordan |
 Royal Scientific SocietyAbeer Arafat |
| Lebanon |
 Institute of Financial Economics – American University in Beirut Samir Makdisi |
| Malta |
| Vacant |
| Morocco |
 FSJES – Agdal University Mohammed VLahcen OULHAJ |
| Palestine |
 Al Quds University of Jerusalem Mahmoud Eljafari |
| Poland |
 Department of Economics, Warsaw University Jan Michalek |
| Spain |
Rafael DE ARCE |
| Syria |
| *Vacant* |
| Tunisia |
 Université de Tunis El Manar Mongi Boughzala |
| Turkey |
 Bilkent University Center for International Economics Subidey Togan |
| United Kingdom |
 Sussex University Michael Gasiorek |