Dhaka: Two separate bills were passed in the Jatiya Sangsad today aiming to make amendments to remove the maximum age limit for the posts of Chairman and Commissioner of Bangladesh Securities and Exchange Commission (BSEC) and Chairman and Member of Insurance Development and Regulatory Authority (IDRA). By the passage of the two bills, the government will be able to appoint chairmen of any age in the two regulatory bodies – BSEC and IDRA.
According to Bangladesh Sangbad Sangstha, Finance Minister Amir Khosru Mahmud Chowdhury separately moved the ‘Bangladesh Securities and Exchange Commission (Amendment) Bill, 2026’ and ‘Insurance Development and Regulatory Authority (Amendment) Bill, 2026’ in Parliament. Later, the two bills were passed through voice vote with Deputy Speaker Barrister Kayser Kamal in the chair.
The existing law stipulates that individuals who have reached the age of 65 are not eligible to be appointed as the Chairman or Commissioner of the Bangladesh Securities and Exchange Commission or to continue in office. The proposed bill aims to eliminate this provision. Similarly, under the Insurance Development and Regulatory Authority Act, individuals over 67 years of age cannot assume the role of chairman or member. The newly introduced bill seeks to abolish this age restriction.
Separate statements detailing the purpose and reasons for the two bills emphasize the necessity of updating the laws to ensure the appointment of experienced, skilled, and knowledgeable individuals capable of making critical decisions in these regulatory bodies.