Mohammad Jainul Bari has been appointed as the the chairman of Insurance Development and Regulatory Authority of Bangladesh.
Former Secretary to Government Mr. Mohammad Zainul Bari joined the post of Chairman of Insurance Development and Regulatory Authority on 16 June 2022.
Experience of Mr. Mohammad Jainul Bari
Before retiring from government service, he was secretary of Ministry of Social Welfare and Planning Department respectively. He holds a Bachelor’s and Master’s degree in English from Dhaka University and a Master’s degree in Public Policy and Management from Northern University.
Mr. Mohammad Zainul Bari joined Bangladesh Civil Service (Administration) Cadre on 26 January 1991. He has served in all the important positions of the field administration. He served as Assistant Commissioner, 1st Class Magistrate, Upazila Executive Officer, Additional Deputy Commissioner, Deputy Commissioner and Divisional Commissioner. He served as senior assistant secretary, deputy secretary, joint secretary and additional secretary in various ministries.
Experience as a government high officials
Served as Deputy Director (Finance/Management) of Primary Education Development Program-II and Deputy Director of Export Development Bureau. He worked as a Procurement Consultant for the project entitled “Strengthening Bangladesh Public Service Commission” funded by the World Bank. He was a director on the board of directors of Rajshahi Agricultural Development Bank (Raqab) and a syndicate member of Haji Danesh University of Science and Technology, Rangpur Begum Rokeya University, Dhaka University of Engineering and Technology (DUET).
Training and Travel of Mohammad Jainul Bari
Mr. Mohammad Zainul Bari participated in training, educational tours and international conferences in different countries. Among them, Sri Lanka, Vietnam, Malaysia, Thailand, Japan, China, Australia, Austria and Canada are notable. He was the Vice President of Bangladesh Administrative Association. He is a life member of Dhaka University Alumni Association.
By the way, Dr. M. Mosharraf Hossain FCA, PhD (until June 2022) was the previous chairman of IDRA.
A brief overview on insurance regulatory authority in Bangladesh
Insurance Regulatory Authority is like a referee in a soccer game. They make sure that the insurance companies are playing fair with their customers. They make sure that the insurance companies have rules to follow and they check to make sure everyone is following these rules.
They look at how much money the insurance company is charging its customers for services. They also make sure that the insurance company pays out any claims made by customers in a timely manner. If there’s an issue, the IRA makes sure everyone follows the rules and gets what they need.
Think of it like this: You’re playing soccer and you want to be sure all of your teammates are playing nice and not cheating. A referee comes along to supervise, just like the IRA does with insurance companies – watching over them and making sure they treat their customers fairly.
The insurance regulatory authority in Bangladesh is IDRA Bangladesh. The insurance Development and Regulatory Authority of Bangladesh (IDRA) is the only government body for regulating and developing the insurance sector of Bangladesh since 2010. It has been established under the new laws (IDRA Act 2010) which came into effect on 18 March 2010
[…] by the Chairman of Insurance Development and Regularity Authority – Mr. Mohammad Jainul Bari, a circular reads as follows in […]