CEO of the National Bank of Oman (NBO), Ahmed bin Jaffar Al Musalmi has resigned from his post, the bank confirmed on Thursday.

In a statement released online, the bank said that its board of directors had accepted Musalmi’s resignation and that chief investment officer and general manager, Sayyid Wasfi bin Jamshid Al Said had been appointed as acting CEO effective immediately.

“The board of directors has accepted the official resignation of Mr. Ahmed bin Jaffar Al Musalmi, Chief Executive Officer. We would like to sincerely thank him for his years of service and dedication to the bank and we wish him all the best in his future endeavours,” NBO said, adding, “Sayyid Wasfi bin Jamshid Al Said, general manager and chief investment officer, will resume the CEO responsibilities as acting CEO effective immediately.”

According to NBO’s official website, Musalmi was appointed CEO in 2014, after serving as deputy chief executive officer for three years, and general manager and chief operating officer before that.