M Aslam Alam, chairman of the Insurance Development and Regulatory Authority (IDRA), has resigned from his post, citing personal reasons.
In a formal letter submitted on Monday to the Secretary of the Financial Institutions Division, Aslam Alam announced his decision to step down from the regulatory body.
Saifunnahar Sumi, spokesperson for IDRA, said Aslam Alam had informed officials of his decision to resign at a meeting nearly two weeks ago.
The resignation, however, was formally submitted on Monday.
Appointed by the interim government in September 2024, Aslam Alam served as the 10th chairman of the insurance sector regulator.
His resignation comes a week after the removal of former central bank governor Ahsan H Mansur.
