Allegation of power misusing against IDRA Chairman
G Mostafa: Allegation of abusing power in context of recruiting Chief Executive Officer (CEO) for a non-government life insurance company has been intensified against Dr M Mosharraf Hossain, Chairman of Insurance Development and Regulatory Authority (IDRA).G Mostafa: Allegation of abusing power in context of recruiting Chief Executive Officer (CEO) for a non-government life insurance company has been intensified against Dr M Mosharraf Hossain, Chairman of Insurance Development and Regulatory Authority (IDRA).According to the sources, the post of CEO in the Swadesh Life Insurance Company had been remained vacant for around two and half years. At that time, a top level officer of the company named Ikhtiar Uddin Shahin discharge the duty of CEO of the company without any approval of the authorities concerned. There is an allegation that, Shahin has no adequate academic fitness and experience for the post as per provision. Besides, he has taken shelter of lie through the papers submitted for the approval of his appointment in the post. Though, the concerned officials of the IDRA, who were engaged in the recruitment, made objection over his recruitment, the chairman did not take that in cognizance. Misusing power, Mosharraf Hossain approved the appointment, while he was discharging duty as Acting Chairman. After a week, Mosharraf took full charge as Chairman.Sources said, application to recruit Ikhtiar Uddin Shahin as CEO was submitted to the IDRA on February 17 last year. Necessary papers were submitted to the authorities after three months of the filing application. False information was given in the papers including educational and experience certificates. Though, Shahin claimed that he passed BSS under national university and masters from a private varsity, he could not submit or show the certificates. He also claimed that his certificates have been lost and he lodged a general dairy (GD) in this connection, which has been submitted to the IDRA. But, the DG copy was not attested. Abul Kashem Mohammad Fazlul Haque, Director of the agency in a file submitted on July 19 claimed that, as per demand of Shahin, he passed BSS degree in 1996 and lost his marks sheet. But, he could not submit any eligible documents in this regard, even after 24 years have been passed after gaining the degree. As per the file, Shahin discharged the duty of CEO for two years and six months without any approval violating insurance rules, which is termed as offense. Mosharraf Hossain signed the file as member on September 6 and as Acting Chairman on September 7. His name was mentioned, where he signed as member, but his name was not mentioned, where he signed as Acting Chairman. According to the terms and conditions of the insurance company’s ‘Chief Executive Officer Appointment and Removal Regulations 2012’, he or she, who will be appointed as Chief Executive Officer, has to have at least 3 years bachelor’s degree and 1 year masters degree or 4 years bachelor’s degree and equivalent degree from a recognized university. However, Shahin does not have this educational qualification.According to IDRA, he holds a two-year BSS degree in third class from from Palash Industrial College affiliated to the National University in 1996. He did his MBA from a private university.He was a graduate student from July 1994 to June 1997. Later in 2010, he obtained a Masters of Business Administration (MBA) degree from America Bangladesh University.It is clear that Shahin does not have the educational qualifications prescribed in the regulations to become the CEO. He did not meet the conditions of work experience under the terms of the ‘Chief Executive Appointment and Removal Regulations 2012’, a minimum of three years of work experience in the second highest position of a similar company is required to be appointed Chief Executive Officer. But Shahin did not fulfill this condition of work experience. He has 11 months and 7 days of work experience in the second highest position of the company. When this correspondent tried to contact with Dr M Mosharraf Hossain for his comment, he could not be reached.