The 59-year-old Rauf, who was part of the ICC's elite panel and officiated in Test matches, was accused of accepting expensive gifts from bookies besides placing bets on IPL matches in the 2013 edition.
After a decision on his fate was deferred for several weeks, the committee, headed by BCCI president Shashank Manohar and comprising Jyotiraditya Scindia and Niranjan Shah, finally announced the ban on him today.
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"Mr Asad Rauf has been banned for a period of five years from umpiring or playing or representing cricket in any form or anyway being associated with the activities of the Board and its Affiliates," the BCCI said in a statement after the meeting.
"Mr Asad Rauf did not appear before the Committee but had sent his preliminary submissions on 15th January 2016 and written statement on 8th February 2016," it added.
The committee, after considering the report of the Commissioner of Enquiry and the written statement of Rauf has found the Pakistani guilty of "misconduct and corruption within the meaning of Article 2.2.2, 2.3.2, 2.3.3 and 2.4.1 of the BCCI Anti Corruption Code".
The articles under which he has been found guilty deal with "soliciting, inducing, enticing, instructing, persuading, encouraging, facilitating or authorising any other party to enter into a bet for the direct or indirect benefit of the Participant in relation to the result, progress, conduct or any other aspect of any match or event".
Rauf was also found guilty of "disclosing Inside Information to any person (with or without Reward) before or during any Match or Event where the Participant might reasonably be expected to know that disclosure of such information in such circumstances could be used in relation to Betting".
Rauf's ban ends the Board's disciplinary proceedings pertaining to the 2013 scandal and subsequent allegations of corruption.
Last month, Haryana off-spinner Ajit Chandila was slapped with a life ban for his involvement in the 2013 IPL spot- fixing scandal, while Mumbai batsman Hiken Shah was handed a five-year suspension for making a corrupt approach to a fellow player.
The 32-year-old Chandila , an off-spinner who was found guilty of spot-fixing during his stint with Rajasthan Royals, was handed a tougher punishment for violating the codes pertaining to accepting bribes, fixing, underperforming, trying to induce a fellow player and betting.
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