IDRA to hold consultation on draft insurance act amendments on November 6

Staff Correspondent: The Insurance Development and Regulatory Authority (IDRA) will hold a consultation on November 6 to review the draft amendments to the Insurance Act, 2010, as part of its broader plan to modernise the country’s insurance sector.

The meeting, scheduled for 3pm at IDRA’s headquarters in Dilkusha, will be chaired by IDRA Chairman Dr M Aslam Alam.

According to an official notice signed by IDRA Director (Law) Mohammad Abdul Majid, the consultation will focus on revising key provisions of the Act to make them more contemporary, practical and transparent. Discussion will also address regulatory, structural and operational challenges to ensure that the revised law aligns with existing market realities and global best practices.

Invitations have been extended to key policymakers, regulators and industry leaders, including representatives from the Financial Institutions Division of the Ministry of Finance, Bangladesh Securities and Exchange Commission, Jiban Bima Corporation, Sadharan Bima Corporation and several professional and trade bodies.