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SANGSAD BHABAN, April 30, 2026 (BSS) - Two separate bills were passed in the Jatiya Sangsad today aiming to make amendments to remove 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).

By the passage of the two bills, the government will be able to appoint chairmen of any age in the two regulatory bodies - BSEC and IDRA.

Finance Minister Amir Khosru Mahmud Chowdhury separately moved the 'Bangladesh Securities and Exchange Commission (Amendment) Bill, 2026 and Insurance Development and Regulatory Authority (Amendment) Bill, 2026 in Parliament.

Later, the two bills were passed through voice vote with Deputy Speaker Barrister Kayser Kamal in the chair.

According to the existing law, if a person completes the age of 65, he is not considered eligible to be appointed as the Chairman or Commissioner of 
Bangladesh Securities and Exchange Commission or cannot continue in office. It has been proposed to delete this provision in the bill.

On the other hand, the Insurance Development and Regulatory Authority Act states that a person cannot become the chairman or member of the Insurance Development Authority if he or she completes 67 years of age. 

The bill brought to Parliament proposes to remove this provision.

Separate statements containing the purpose and reasons for the two bills state that the laws need to be made time befitting to appoint experienced, skilled and knowledgeable persons to take important decisions.