B Mirror Report: Chairman of the Insurance Development and Regulatory Authority (IDRA), Dr M Aslam Alam, submitted his resignation on Monday.

In a letter addressed to the secretary of the Financial Institutions Division, Dr Alam cited personal reasons for stepping down from his position, according to officials familiar with the matter.

Dr Alam was appointed chairman of the insurance sector regulator in September 2024 by the interim government. His resignation comes less than two years after assuming office.

The development follows recent changes in key financial regulatory positions after the new government took office. Earlier last week, former Bangladesh Bank governor Dr Ahsan H Mansur was removed from his position shortly after the new administration assumed power.

Sources said further steps regarding the leadership of IDRA are expected to be announced following the acceptance of Dr Alam’s resignation.