As the central figure in the new institution and the largest stakeholder, China received the major share of votes (26.06 percent). India was granted 7.5 percent of voting rights. Britain, Germany and Australia are also among the founding members.
"China's shareholding and its voting power at the establishment of the AIIB is a natural result led by the rules decided by all members," China's vice finance minister Shi Yaobin said as quoted by the Xinhua news agency.
The $100 billion lender is an international institution designed to provide financial support to infrastructure projects in Asia. Headquartered in Beijing, the development bank is expected to begin operations in 2015.
Beijing's initiative has largely been welcomed with open arms but not everyone is happy.
The United States and Japan are among the few countries, which decided not to join. Moreover, Washington tried to pressure several other states, including its allies, to avoid joining the development bank.