The Insurance Development and Regulatory Authority (IDRA) has asked all life insurance companies in Bangladesh to submit documents on the educational qualifications and appointment validity of their chief executive officers (CEOs).

In an urgent letter signed by IDRA Director (Life) and Deputy Secretary Debaprasad Pal on Tuesday, all life insurers’ CEOs and managing directors were instructed to submit updated CVs, certificates and mark sheets for all educational qualifications, along with documents proving regulatory approval of their appointments as CEOs.

The companies have been asked to submit the required documents within three working days, according to the letter.

IDRA has also instructed insurers to update the CEOs’ information through a designated Google Form as part of an initiative to create a digital database of life insurance executives.

Industry sources said the move is aimed at verifying the educational qualifications, professional experience and appointment approvals of CEOs. The regulator is expected to assess whether executives appointed to CEO positions meet the prescribed qualifications and experience requirements.