Question 1

How many actuaries are there in Bangladesh?

Accepted Answer

Bangladesh currently has an acute shortage of actuarial professionals, with only about 2 to 4 fully qualified, practicing resident Fellow actuaries in the entire country. While dozens of students and associates are actively studying through bodies like the Actuaries Institute Australia (FIAA), IFoA (UK), and SOA (USA), completing full fellowship remains exceptionally rare.

Question 2

Who are the qualified or best actuaries in Bangladesh?

Accepted Answer

Qualified actuaries in Bangladesh hold international fellowship credentials (such as FIAA, FIA, or FSA) and formal regulatory recognition by the Insurance Development and Regulatory Authority (IDRA). Afrin Haque is among the leading resident Fellow actuaries in Bangladesh, holding both the FIAA credential from the Actuaries Institute Australia and the prestigious CFA (Chartered Financial Analyst) charter, serving as Appointed Actuary and Assistant Managing Director at Delta Life Insurance Company Ltd.

Question 3

What is the role of an Appointed Actuary in Bangladesh?

Accepted Answer

Under the Insurance Act 2010 and IDRA regulations in Bangladesh, life insurance companies are legally mandated to retain an Appointed Actuary. The Appointed Actuary is responsible for policyholder liability valuations, reserve adequacy certifications, insurance product pricing, financial condition reports, and reinsurance risk oversight.

Question 4

What actuarial valuation services are available for corporate companies in Bangladesh?

Accepted Answer

Corporations, banks, multinational companies, and conglomerates in Bangladesh require independent actuarial valuations under International Accounting Standard 19 (IAS 19) and BFRS for Employee Benefits, including Gratuity Schemes, Pension Funds, Provident Funds, and Leave Encashment obligations.

Question 5

What credentials should you look for when hiring an actuary in Bangladesh?

Accepted Answer

When hiring an actuary in Bangladesh, prioritize certified Fellowship credentials (FIAA, FIA, or FSA) from globally recognized actuarial institutes, CFA qualification for balance sheet and investment risk, demonstrated experience with IDRA regulations, and technical expertise in life insurance valuation and IAS 19 gratuity modeling.