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Regulatory Authorities in Bangladesh

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Bangladesh has established three key regulatory authorities to oversee specific sectors of its economy. These institutions play a crucial role in ensuring the stability and growth of their respective industries.

Insurance Development and Regulatory Authority (IDRA)

Overview

Established on January 26, 2011, IDRA regulates the insurance industry in Bangladesh with a mission to:

Protect policyholders’ interests
Supervise and regulate the industry effectively
Ensure orderly growth
Maintain a corporate environment

Functions

Regulates the insurance industry in Bangladesh
Ensures compliance with regulatory requirements
Monitors and supervises insurance companies
Licenses new insurance companies
Enforces sanctions on non-compliant companies

Securities and Exchange Commission (SEC)

Overview

Established on June 8, 1993, SEC regulates capital market intermediaries and issues of public limited companies in Bangladesh. Its mission is to:

Protect investors’ interests
Develop fair and transparent markets
Ensure compliance with securities laws

Functions

Regulates stock exchanges
Registers intermediaries (e.g., brokers, dealers)
Monitors collective investment schemes
Promotes investor education
Prohibits insider trading

Microcredit Regulatory Authority (MRA)

Overview

Established in 2006 to regulate Non-government Microfinance Institutions (NGO-MFIs), MRA’s mission is to:

Ensure transparency and accountability of microfinance operations
Foster sustainable growth
Implement policies for good governance and transparent financial systems

Functions

Licenses, supervises, and enforces sanctions on Microfinance Institutions (MFIs)
Regulates the microcredit sector in Bangladesh
Ensures compliance with regulatory requirements
Monitors and supervises MFIs