View source for Insurance Development and Regulatory Authority of Bangladesh

{{Use dmy dates|date=November 2019}}
{{Infobox organization
| name          = Insurance Development and Regulatory Authority of Bangladesh
| abbreviation  = IDRA
| image = File:IDRA logo.jpeg
| type          = [[Governmental organization|GO]]
| headquarters  = Sadharan Bima Corporation Tower (8th floor), 37/A, Dilkusha Commercial Area, Motijheel, [[Dhaka]] -1000, [[Bangladesh]]
| website       = {{URL|http://www.idra.org.bd|idra.org.bd}}
}}
'''Insurance Development and Regulatory Authority of Bangladesh''' (IDRA) is the only government body for regulating and developing the [[insurance]] sector of Bangladesh since 2010.<ref name=bb>{{cite news |date=2015-09-19 |title=Regulators of the Financial System of Bangladesh |url= https://www.bb.org.bd/fnansys/regulator.php}}</ref>
==History==
The Parliament of [[Bangladesh]] on 3 March 2010 has passed two [[insurance]] laws in a bid to further strengthen the regulatory framework for the insurance industry. The new laws came into effect on 18 March 2010, are the Insurance Act 2010 and IDRA Act 2010.
A total of 81 insurance companies have been operating in the country. The companies are to be regulated under comprehensive laws and guidelines and to be supervised by IDRA. The IDRA Act 2010 has paved the way for better regulation of the sector by reducing business risks, and by harmonizing local and international insurance laws for the [[Economy of Bangladesh]]. IDRA attempts to protect the interest of insurance policyholders, beneficiaries and ensuring stability of the insurance sector.<ref name=idra>{{cite news|date= 2018-04-16|title= Bangladesh Insurance Market Report 2017|url= http://reinsurance.global/bangladesh-insurance-market|access-date= 16 April 2018|archive-url= https://web.archive.org/web/20190424132436/http://reinsurance.global/bangladesh-insurance-market|archive-date= 24 April 2019|url-status= dead}}</ref> Two state-owned insurers -[[Sadharan Bima Corporation]] (SBC) and [[Jiban Bima Corporation]] (JBC) are also regulated by IDRA.
==List of former chairmen==
{| class="wikitable"
|+ Former Chairpersons
|-
! Serial No. !! Name !! Date of Assumption !! Date of Demitting Office !! Reference
|-
| 1 || M. Shefaque Ahmed || 27 January 2011 || 26 January 2014 || <ref name=":0">{{Cite web |title=Previous Chairman |url=https://idra.org.bd/site/page/55d27b69-24c1-47c2-8612-491d2316feec/- |access-date=9 December 2024 |website=Insurance Development & Regulatory Authority}}</ref>
|-
| 2 || Md. Fazlul Karim || 29 January 2014 || 03 March 2014 || <ref name=":0" />
|-
| 3 || Md. Quddus Khan || 04 March 2014 || 08 April 2014 || <ref name=":0" />
|-
| 4 || M. Shefaque Ahmed || 09 April 2014 || 08 April 2017 || <ref name=":0" />
|-
| 5 || Gokul Chand Das || 09 April 2017 || 22 August 2017 || <ref name=":0" />
|-
| 6 || Md. Shafiqur Rahman Patwari || 23 August 2017 || 22 August 2017 || <ref name=":0" />
|-
| 7 || M. Mosharraf Hossain || 26 August 2020 || 26 September 2020 || <ref name=":0" />
|-
| 8 || M. Mosharraf Hossain || 27 September 2020 || 14 June 2022 || <ref name=":0" />
|-
| 9 || Mohammad Jainul Bari || 16 June 2022 || 08 September 2024 || <ref name=":0" />
|}
==Organizational structure==
*Dr. M Aslam Alam - Chairman<ref>{{Cite web|url=https://www.insurancenews24.com/news/chairmanofidra2024|title= ড. এম আসলাম আলম নতুন বাংলাদেশের বীমা শিপ্লের অভিভাবক|website=InsuranceNews24.com| access-date=2024-11-24}}</ref>
* Md Fazlul Haque - Member (Admin Affairs)
* Tanjina Ismail - Member (Legal Affairs)
* Md. Apel Mahmud ACII (UK) - Member (Life)
* Mohammad Abu Bakar Siddique - Member (Non-life)
== See also ==
* [[List of Insurance Companies in Bangladesh]]
* [[List of financial regulatory authorities by jurisdiction]]
== References==
{{Reflist}}
==External links==
* {{official website|http://www.idra.org.bd}}
{{Bangladesh topics}}
{{authority control}}
{{DEFAULTSORT:Insurance Development and Regulatory Authority of Bangladesh}}
[[Category:Government agencies of Bangladesh]]
[[Category:Insurance regulation]]
[[Category:Regulators of Bangladesh]]
[[Category:2010 establishments in Bangladesh]]
[[Category:Financial regulatory authorities of Bangladesh]]
[[Category:Insurance in Bangladesh]]