Govt body probes Idra chairman’s graft allegation

The government is investigating corruption allegations against Insurance Development and Regulatory Authority (Idra) Chairman M Mosharraf Hossain.

Last week the government set up a three-member investigation committee headed by ABM Ruhul Azad, additional secretary to the Financial Institutions Division under the finance ministry.

Azad confirmed the media on Thursday that the committee would submit its report within 15 working days.

In the context of the latest development, the Idra chairman is going to skip the programme arranged to observe the National Insurance Day on March 1, according to the programme schedule.

Prime minister Sheikh Hasina will virtually attend the programme as the chief guest.

Delta Life Insurance, the country's first private sector life insurer, claimed in a press conference on February 7 that the Idra chairman had demanded Tk50 lakh in bribes from an official of the company and the company then preferred filing a case with the Anti-Corruption Commission (ACC).

On the other hand, citing some irregularities based on special audit findings, Idra suspended the Delta Life board of directors for four months and appointed an administrator on February 11.

The company also had filed a plea to the finance ministry to look into the matter alongside seeking a stay order on the appointment of the administrator from the High Court.

The High Court on February 23 allowed the administrator to continue but ordered the administrator not to go beyond his jurisdiction as an administrator.

Delta Life employee Pallab Bhowmick, who filed the graft allegation against the Idra chairman, wrote to the corruption watchdog on February 17 to withdraw his previous allegation against the chief regulator.

The High Court also ordered the ACC not to accept the letter requesting graft allegation withdrawal.