Dhaka, July 1 -- The Insurance Development and Regulatory Authority (IDRA) has proposed sweeping amendments to the rules governing the appointment and dismissal of chief executive officers (CEOs) in Bangladesh's insurance industry.
The draft changes aim to strengthen corporate governance, improve regulatory oversight, and curb persistent malpractice in the sector.
At present, only the boards of individual insurance companies hold the authority to remove their CEOs. IDRA plays no formal role in such decisions.
However, under the proposed regulations, the authority is seeking powers to not only remove CEOs found guilty of misconduct or abuse of power but also disqualify them from holding executive positions across the entire insurance sect...