Boxing is not governed by a single body. Instead, there are four different bodies that regulate and control boxing fights and each has its belt. The four organizations were formed in different countries at different times and mostly because of the competition or irregularities in some of them. This article explains the bodies and their belts.
The World Boxing Association
This organization was established in the United States in 1962 making it the oldest boxing organization. The associates moved its base to Panama where it is currently based. The organization has been involved in corruption scandals which have affected its integrity. For instance, Bob Arum claimed that he was forced to pay its officials to get the boxers’ rankings records in 1982. These corruption allegations made it lose its supporters and led to the rise of other boxing organizations.
The World Boxing Council
Founded in Mexico in 1963, the World Boxing Council is considered the most prestigious boxing world title. Most boxers want this belt. Most of the high profile bouts are held by the World Boxing Council such as Muhammad Ali, Sugar Ray Leonard, and Floyd Mayweather fights. Currently, the World Boxing Council heavyweight title is held by Deontay Wilder and middleweight title is held by Gennady Golovkin.
The International Boxing Federation
This boxing organization was formed in 1983 by Bob Lee after he could not clinch the presidency of the World Boxing Association. Marvin Carmel was the first International Boxing 
Federation champion in the cruiserweight. The International Boxing Federation has seventeen divisions from mini flyweight to heavyweight. The current heavyweight title is held by Anthony Joshua.
The World Boxing Organization
This boxing organization was formed in 1988 and it is based in Puerto Rico. It was founded partly because of the differences in the World Boxing Association. It gained popularity in the 1990s after it held some high profile fights.