Shah will have the responsibility of heading ICC's most important committee. Al the major financial policy decisions are taken by the F&CA committee before it is ratified by the ICC board
Jay Shah expressed his vision to grow the global reach of the sport with a particular focus on the opportunity of the Olympic Games in Los Angeles in 2028.
Bilateral cricket ties have been suspended since 2007 although Pakistan did tour India for a short limited over series.
The Federation of International Cricketers' Associations (FICA) urged Test playing nations on Wednesday to reject the controversial proposals that would effectively place Australia, England and India in charge of the world game.
The Board of Control for Cricket in India congratulated its president-in-exile N Srinivasan for being elected as the first chairman of the ICC, saying there could not have been a better person for the position.
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