Institute of Chartered Secretaries of Bangladesh

A Statutory Body under an Act of Parliament

Administrative Ministry: Ministry of Commerce, Government of the People's Republic of Bangladesh



ICSB offered training on ‘Insurer Corporate Governance Guideline, 2023 issued by Insurance Development and Regulatory Authority (IDRA)’ held on Saturday, 9 December 2023 at Holiday Inn Dhaka. Mr. Mohammad Jainul Bari, Chairman of Insurance Development and Regulatory Authority (IDRA) graced the occasion as the Chief Guest. A good number of participants from various insurance companies both from life and general insurance attended the training program. The session was very interactive on the newly introduced Guideline.  

The training program was inaugurated by the President of ICSB Mr. Mohammad Asad Ullah FCS who attended as Session Chairman. He introduced the panel of learned resource persons of the training and welcomed all participants. In his inaugural speech, he focused on the importance of updated Corporate Governance Guideline for Insurance Companies. He briefly informed the audience about the history of ICSB and its activity. He also mentioned that, ICSB has a good number of competent professionals and 19 Chartered Secretaries Firms who can work with the Insurance companies regarding their compliance issues. 

The training program was moderated by the Senior Vice President of ICSB Mr. M Nurul Alam FCS and presented a brief informative presentation on “Insurer Corporate Governance Guideline, 2023”. In his presentation he discussed about background, main elements of CG structure, eligibilities of Directors and Independent Directors, different issues for forming relevant committees, disclosurers, related party transactions, whistle-blowing policy, corporate governance related annual compliance report, challenges, etc. 

The learned panel discussants of the training sessions included Mr. Mohammad Khalid Hossain, Executive Director (Joint Secretary), Non-Life Department; and Law Department of Insurance Development and Regulatory Authority (IDRA), Mr. Md. Saifur Rahman, Executive Director (General) Issuer Company Affairs Division of Bangladesh Securities and Exchange Commission (BSEC), Brig Gen Shafique Shamim, psc (Retd), CII (Cert), Managing Director of Sena Kalyan Insurance Company Limited.  They thanked ICSB for organizing such a time-befitting event and mentioned that this initiative of ICSB certainly update the knowledge of the participants. They also highlighted the technical and legal aspects of the newly introduced guideline. 

Chief Guest Mr. Mohammad Jainul Bari, Chairman of Insurance Development and Regulatory Authority (IDRA) thanked ICSB for organizing this event and mentioned that it is a good opportunity for the participants to know about the guideline. In his speech, he mentioned that new guideline may be challenging for all Insurance companies but there is a scope to consult with IDRA. The trust of Insurance beneficiaries will be improved by this newly developed guideline. 

Through recent activities, I came to know about ICSB and understood that they have several qualified professionals who can work with the Insurance companies for their development. The IDRA and ICSB can work together for the development of the insurance sector of Bangladesh. 

Finally, Chief Guest Mr. Mohammad Jainul Bari handed over the certificates to the participants. Dignitaries, different professionals, Managing Directors, Directors, CEO and corporate executives of the nation's top insurance companies, Council Members, Office Bearers, Chartered Secretaries in Practice and members of the Institute attended the event.