RBZ Orders Banks To Facilitate Access To Forex By Students Studying Abroad

According to a statement released by chairperson of the Parliament’s Portfolio Committeeon Foreign Affairs, Industry and Commerce, Kindness Paradza the Reserve Bank of Zimbabwe (RBZ) has directed banks to facilitate access to foreign currency by students studying abroad to enable them pay fees and other expenses.

This comes amid reports that Zimbabwean students in Cyprus are now engaging in criminal activities like drug trafficking and prostitution after being reportedly stranded after failing to pay tuition. Said Paradza:

The Parliamentary Portfolio Committee on Foreign Affairs, Industry and Commerce is advising all parents, guardians or relatives with children studying abroad and who are facing challenges in accessing foreign currency for tuition and other ancillary fees, that they should approach their respective banks for assistance. The directive from the RBZ has already been given to all local banks to prioritise this matter.

Prior to its meeting with the Governor John Mangudya, Parliament, through the Portfolio Committee on Foreign Affairs, had held several meetings with Government officials and various other stakeholders to try and find a lasting solution to a myriad of challenges related to disbursement of tuition fees of Zimbabwean scholars studying abroad

More: Herald

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2 comments on “RBZ Orders Banks To Facilitate Access To Forex By Students Studying Abroad

  1. I am based in South Africa but my children are studying in Cyprus. I was using my resources in Zimbabwe for my children’s subsistence and I was having the money deposited into an ecocash account and they in turn swipe to purchase or withdraw for their needs. Can this facility be deactivated or selectively activated. I hope this request will be considered.

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