Dhaka:The Insurance Development and Regulatory Authority (IDRA) has issued a stern warning against the misuse of its officials’ names to illegally demand financial and other benefits from various companies and institutions.
IDRA stressed that such activities are unethical, illegal, and will be met with a “zero tolerance” policy.
The issue has come to the attention of the regulatory body that financial benefits are being sought from insurance companies, survey firms, and related individuals using the names of IDRA officers or employees.
In a strong cautionary notice, IDRA clarified that none of its officials or employees can personally demand any financial or other form of benefit. The authority stated that such demands are completely illegal, immoral, and a punishable offense. The IDRA emphasized that the institution has no connection with such enticements or demands.
The authority has instructed victims to take immediate action. “If anyone falls victim to such illegal demands, they must not respond in any way and must immediately inform IDRA in writing,” the notice stated. Victims are also requested to submit evidence if available.
IDRA assured that upon receiving a complaint, strict legal action will be taken against the perpetrators.
The directive, signed by IDRA Director (Administration) Ahammad Ehsan-Ul-Hannan yesterday (Monday) which was made public on Tuesday.
The directive noted that these fraudulent activities are attempts to tarnish the image of the institution, underscoring the authority’s commitment to maintaining a policy of zero tolerance in this regard.
IDRA issues ‘Zero Tolerance’ warning against officials misusing authority for illegal financial demands
Dhaka, Sep: The Insurance Development and Regulatory Authority (IDRA) has issued a stern warning against the misuse of its officials’ names to illegally demand financial and other benefits from various companies and institutions.
IDRA stressed that such activities are unethical, illegal, and will be met with a “zero tolerance” policy.
The issue has come to the attention of the regulatory body that financial benefits are being sought from insurance companies, survey firms, and related individuals using the names of IDRA officers or employees.
In a strong cautionary notice, IDRA clarified that none of its officials or employees can personally demand any financial or other form of benefit. The authority stated that such demands are completely illegal, immoral, and a punishable offense. The IDRA emphasized that the institution has no connection with such enticements or demands.
The authority has instructed victims to take immediate action. “If anyone falls victim to such illegal demands, they must not respond in any way and must immediately inform IDRA in writing,” the notice stated. Victims are also requested to submit evidence if available.
IDRA assured that upon receiving a complaint, strict legal action will be taken against the perpetrators.
The directive, signed by IDRA Director (Administration) Ahammad Ehsan-Ul-Hannan yesterday (Monday) which was made public on Tuesday.
The directive noted that these fraudulent activities are attempts to tarnish the image of the institution, underscoring the authority’s commitment to maintaining a policy of zero tolerance in this regard.
