News Regulations11 Sep 2024

Bangladesh:Insurance regulatory authority has a new chairman

| 11 Sep 2024

Bangladesh's interim government has appointed former senior secretary Mr M Aslam Alam as the new chairman of the Insurance Development and Regulatory Authority (IDRA), the finance ministry announced in a circular.

He is appointed on a contractual basis for a three-year term or until he turns 68.

Mr Alam's appointment follows the resignation of Mr Mohammad Jainul Bari's resignation from the post on 5 September. Mr Bari quit citing "personal reasons", an official of the finance ministry said on condition of anonymity, according to a report by the newspaper, The Daily Star.

The government named Mr Bari chairman of the insurance regulator in June 2022 for a three-year term.

The IDRA was established by the Insurance Development and Regulatory Authority Act of 2010 and started operations in January 2011.

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