Higher and Tertiary Education, Science and Technology
Development Minister Professor Amon Murwira has approached the High Court
seeking to recover about US$1 600 000 student funds from Metbank Limited.
According to summons filed at the High Court, the minister,
who is the applicant, through Harare Polytechnic College, opened bank accounts
with Metbank namely Funds for Tertiary, Amenities and Zimber Students Account.
The business agreement was that the money will be withdrawn
whenever the need arose and a total of US$1 597 662,68 was deposited in the
bank.
“In 2013, the bank started to show signs of failing to
release money deposited by the college,” reads the summons.
“Efforts to negotiate methods to get the money were
fruitless.
“Despite demand, the bank failed, refused or neglected to
release the money to the plaintiff.
“The plaintiff prays for refund of US$1 597 662,00 or (RTGS
equivalent of the inter-market rate at the time of payment)
“Interest on the said amount at the prescribed rate with
effect from date of summons to date of full payment.” The Reserve Bank of Zimbabwe is cited as the second
respondent.Herald
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