Former Bangladesh Bank executive director and spokesperson Md Sirajul Islam has become a member of the Insurance Development and Regulatory Authority (IDRA) for a three-year contractual term.
IDRA confirmed his joining in a press statement issued on Monday, saying Islam assumed charge as Member (Administration) of the insurance sector regulator following an appointment order issued by the Financial Institutions Division of the Ministry of Finance on Sunday.
The appointment was made under Section 5(2) of the Insurance Development and Regulatory Authority Act, 2010, according to the notification.
The government appointed Islam on the condition that he sever all professional ties and working relationships with other institutions and organisations before taking charge.
The notification said his salary, allowances and other benefits would be determined through a formal agreement with the government.
The Financial Institutions Division said the appointment, issued in the public interest, would take immediate effect.
