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Alejandro Zelaya will run to head CABEI, a person familiar with the matter told Bloomberg.
Zelaya, who spent three years at the Finance Ministry before leaving last month, currently serves as a director at the multilateral development bank.
To run for executive chairman, he has to resign from his current position, said the person, who requested anonymity because the plans are not public.
Tegucigalpa-based CABEI plans to elect the executive president after Dante Mossi's five-year term ends in november.
Applications must be submitted by september 8. The final decision will be made by an assembly of governors, which is composed of fifteen finance ministries from member countries, including Mexico, Argentina, South Korea and Taiwan.
Translated by: A.M