The managing directors of Sonali Bank and Rupali Bank yesterday swapped seats for the next three years, in what can be viewed as a baffling round of musical chairs.
Md Obayed Ullah Al Masud, who was previously the MD of Sonali Bank, the largest bank in the country, will take helm at Rupali Bank, according to a letter of the finance ministry.
Ataur Rahman Prodhan, who was the MD of Rupali Bank, will join Sonali.
Mohammad Shams-Ul Islam, who was the MD of Agrani Bank, will continue in the same post for the next three years.
The Financial Institutions Division of the finance ministry sent letters to the boards of the state lenders, giving its consent about the appointments.
The boards will now obtain no-objection certificate from the central bank in this regard, a finance ministry official said.