Age limit for BSEC and IDRA top officials may be lifted

The government may lift the age limit for chairman posts of the Bangladesh Securities and Exchange Commission (BSEC) and the Insurance Development and Regulatory Authority (IDRA), clearing the legal path for experienced individuals to lead the regulatory bodies regardless of age.

The age limit for BSEC commissioners and IDRA members may also be lifted, according to an official of the finance ministry.

Under the 1993 BSEC law, the age threshold for appointment as chairman or commissioner is 65 years, with the possibility of reappointment only once.

According to the IDRA Act, a person cannot be appointed as chairman if they are 67 years old or above.

Previously, the interim government removed the maximum age limit of 67 years for the post of governor of Bangladesh Bank. Last month, parliament passed the respective bill.