Mohammad Jainul Bari, chairman of the Insurance Development and Regulatory Authority (IDRA), yesterday informed that he would resign today.

"I have decided to resign. I will send the formal resignation letter to the Financial Institutions Division," he said on being contacted by The Daily Star.

Bari was appointed as the IDRA chairman on a contractual basis on June 15, 2022 for a three-year term.

Following the prime minister's resignation on August 5, top officials of various government bodies have been stepping down en masse.

Amid the wave of these resignations, the IDRA chairman also announced his decision to leave the insurance regulator.

Before joining the IDRA, Mohammad Jainul Bari was secretary to the Planning Division.