Two separate bills were passed in the Jatiya Sangsad on Wednesday to amend provisions removing the maximum age limit for the posts of Chairman and Commissioner of Bangladesh Securities and Exchange Commission (BSEC) and Chairman and Member of Insurance Development and Regulatory Authority (IDRA).
With the passage of the bills, the government will be able to appoint chairmen of any age to the two regulatory bodies, BSEC and IDRA.
Finance Minister Amir Khosru Mahmud Chowdhury moved the “Bangladesh Securities and Exchange Commission (Amendment) Bill, 2026” and the “Insurance Development and Regulatory Authority (Amendment) Bill, 2026” separately in Parliament.
Later, the bills were passed by voice vote with Deputy Speaker Barrister Kayser Kamal in the chair.
Under the existing law, a person is not eligible to be appointed as Chairman or Commissioner of BSEC after attaining 65 years of age. The bill proposes to remove this restriction.
Similarly, the Insurance Development and Regulatory Authority Act states that a person cannot be appointed Chairman or Member of IDRA after the age of 67. The new amendment proposes to remove this age bar.
The statements of objectives and reasons of the two bills said the changes are necessary to make the laws time befitting and to ensure appointment of experienced, skilled and knowledgeable persons in key decision-making positions.
