Age bar for BSEC, IDRA chairmanship set to go

FE REPORT
The government has approved amendments to remove the age limit for appointing chairmen of the Bangladesh Securities and Exchange Commission (BSEC) and the Insurance Development and Regulatory Authority (IDRA), paving the way for the appointment of experienced candidates to the two key regulatory bodies.
The Cabinet Division approved the changes by amending the Bangladesh Securities and Exchange Commission Act, 1993 and the Insurance Development and Regulatory Authority Act, 2010, officials said.
Finance Minister Amir Khosru Mahmud Chowdhury told The Financial Express on Saturday afternoon that the changes were made to facilitate the appointment of qualified and experienced candidates.
Officials at the Financial Institutions Division (FID) said the amended provisions will now undergo vetting by the Ministry of Law, Justice and Parliamentary Affairs before being placed in parliament for final approval.
"We will try to secure parliamentary approval within the current session," a senior FID official said.
Following parliamentary approval, the amendments will require the President's assent before coming into effect.
Appointments to the chairmanships of the two key regulatory bodies are expected to take place as early as May, officials added.
jasimharoon@yahoo.com