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Chairman of the Insurance Development and Regulatory Authority (IDRA) Dr M Aslam Alam submitted his resignation on Monday, citing personal reasons.
In a letter addressed to the Secretary of the Financial Institutions Division, Dr Alam formally stepped down from the post.
Saifunnahar Sumi, Consultant (Media and Communication) and spokesperson for IDRA, told The Financial Express that the chairman had announced his decision to resign at a meeting nearly two weeks ago. He formally submitted the resignation letter today (Monday).
Dr Alam was appointed as head of the insurance regulator in September 2024 by the interim government.
The development comes shortly after the removal of former central bank governor Dr Ahsan H Mansur last week, soon after the new government assumed office.