Dhaka: Parliament on Thursday witnessed an unusual and unprecedented debate after the passage of two key financial sector bills, despite no provision in the rules of procedure allowing discussion once a bill has been passed. The Bangladesh Securities and Exchange Commission (Amendment) Bill 2026 and the Insurance Development and Regulatory Authority (Amendment) Bill 2026 were passed in Parliament by a voice vote after Finance Minister Amir Khosru Mahmud Chowdhury moved those.
According to United News of Bangladesh, after the passage of the two bills, a debate ensued between the treasury and opposition benches. Independent MP Rumeen Farhana, elected from Brahmanbaria-2, was the only member who had proposed sending the two bills to the public opinion or scrutiny committee. Consequently, she was the only member who got the opportunity to discuss the bill, although several opposition members raised their hands to speak.
In her discussion, Rumeen Farhana highlighted concerns about the insurance sector, stating that while it is a pillar of the Bangladesh economy, its condition is not very good. The Finance Minister concurred, acknowledging the challenges facing the sector, including mismanagement, corruption, and government patronage. He noted that many insurance companies operate without regard for laws and regulations.
As the session proceeded, several opposition members sought the chance to voice their opinions. However, Deputy Speaker Kayser Kamal indicated there was no opportunity for further discussion at that stage. Nonetheless, Leader of the Opposition Dr. Shafiqur Rahman was allowed to speak. He expressed concerns about the timely availability of bill documents and called for the suspension of the bills. The Deputy Speaker responded, stating that the reports were distributed on time, and the bills were passed accordingly.
National Citizen Party MP Akhter Hossen questioned the aim of the amendments, particularly regarding the removal of age caps in the Securities and Exchange Commission Act and the Insurance Corporation Act. He speculated whether these changes were made to benefit specific individuals rather than adhering to policy. He recalled past instances where age limits were altered for political convenience, leading to national challenges.
The Finance Minister was then asked to respond. He pointed out that in many countries, successful operation of securities exchange commissions occurs without such obstacles. He emphasized the importance of considering qualified and skilled individuals for positions, regardless of age constraints.
Opposition Leader Shafiqur Rahman reiterated the need for qualified individuals in key positions and criticized recent government appointments, suggesting they did not align with public or democratic interests. He cautioned against politicizing appointments, which he believed would hinder national progress.
In response, the Finance Minister asserted that discussions post-bill passage were inappropriate and defended past appointments made by the BNP government as non-political. He praised the current BB governor’s performance and noted that the Prime Minister has ensured no political figures are appointed in the financial sector.
Deputy Leader of the Opposition Syed Abdullah Md Taher expressed satisfaction with the Prime Minister’s decision not to appoint party members to financial institutions. However, he remarked on the current BB governor’s past political affiliations, prompting further clarification from the Finance Minister, who argued that supporting a party does not equate to party membership.