Dhaka, Apr 30 (V7N) — The National Parliament has passed the Bangladesh Securities and Exchange Commission (Amendment) Act 2026 and the Insurance Development and Regulatory Authority (Amendment) Bill 2026, despite objections raised by the opposition.

The bills were placed in the House on Thursday morning by Finance Minister Amir Khosru Mahmud Chowdhury during the 25th working day of the first session of the 13th National Parliament. Both bills were passed by voice vote.

Under the revised law, the existing age limit restricting individuals from serving as Chairman or Commissioner of the Bangladesh Securities and Exchange Commission (BSEC) after 65 years of age has been removed.

Similarly, the amendment to the Insurance Development and Regulatory Authority (IDRA) Act abolishes the previous provision that barred individuals from holding the positions of Chairman or Member after reaching 67 years of age.

The statements of objectives and reasons attached to the bills argue that the changes are necessary to ensure that experienced, skilled, and knowledgeable professionals can continue contributing to important regulatory decisions.

The passage of the amendments comes amid debate in Parliament, with opposition lawmakers expressing reservations over the removal of retirement age restrictions for top regulatory posts.

END/SMA/AJ