M Aslam Alam, former rector of the Bangladesh Public Administration Training Centre, has been appointed as chairman of the Insurance Development and Regulatory Authority (Idra).

Alam was appointed on a contractual basis for a three-year term, the finance ministry said in a circular yesterday.

The position had been vacant since Mohammad Jainul Bari stepped down as chairman on September 5, according to an official of the Financial Institutions Division.

Bari had resigned citing "personal reasons", the official said.

The previous government had appointed Bari as chairman of the country's insurance regulator in June 2022 for a three-year term.

Alam is the 10th chairman of Idra.