The former PCB chairman, who is in the city currently ahead of the ICC meetings, has emerged as the favourite to replace Kamal, according to a report in 'ESPNcricinfo'.
Sethi was slated to take over from Bangladesh's Kamal as the ICC president for a period of 12 months from July 1.
He had, however, expressed a willingness to take the role for an interim period before formally taking charge in July.
Kamal resigned from his position after a fallout with the ICC in the wake of the India-Bangladesh quarter-final match at the World Cup, when he had strongly criticised the umpires - even questioning their motives - over a dubious no-ball call that went against his nation.
According to the ICC's rules, the BCB had the option of nominating a replacement for Kamal, who is a former president of the Bangladesh board. On April 5, BCB president Nazmul Hassan said the board was still undecided over a replacement.