A circular of the finance ministry issued yesterday said the former president of Metropolitan Chamber of Commerce and Industries has been relieved of his duties as director of the central bank's managing board as per section 15 (1) (B) of Bangladesh Bank order of 1972.

The order empowers the government to remove a director from office at will.

Latifur Rahman was appointed director of the central bank in December 2001. His tenure of office was due to expire on December 31.