Apart from the Rector and Senate, Management Board is one of the highest managerial bodies of the Universty of Bihać. Its jurisdiction, responsibilities and the scope of work are defined by laws and the Statute of the University of Bihać. Management Board consists of nine members – six members are appointed by the Government of the Una-Sana Canton and three members from the academic staff are appointed by the Senate of the Universty of Bihać. Their term of office is four years.

Responsibilities of the Management Board of the Universty of Bihać are: delivering opinions on the Statute; adopting Internal Organization Rules, Rules on Salaries, and other general rules required by Law which do not concern academic issues; making decisions on founding, changing and closing down organizational units in accordance with Law and Statute; making plans for financing and development; passing Annual Work Plans as proposed by the Senate; determining the criteria for the distrubution of funds, both from the Founder and University's own revenue, to the organizational units in accordance with Law and the opinion of the Senate; adopting Annual Financial Statement and Financial Plan as proposed by the Senate; directing, overseeing and assessing the work of Rector, deans and directors in terms of finances; deciding on others issuses concerning financing and organizing the work of the Universty of Bihać. At the moment, there is no active Management Bord; prevous one had eight appointed members.

Current members of the Management Board:

1. Mahmut Alagić, LL. B. (on behalf of the Founder);
2. Ibrahim Kamenjašević, BSc (on behalf of the Founder);
3. Irma Aličajić, BSc, MEcon (on behalf of the Founder);
4. Edvin Alijanović, BA, MA (on behalf of the Founder);
5. Almir Tahirović, BSc, MBA (on behalf of the Founder);
6. Assistant Professor Ekrem Nezirević, PhD (on behalf of the University);
7. Associate Professor Halid Makić, PhD (on behalf of the University);
8. Assistant Professor Kenan Mahmutović, PhD (on behalf of the University).