MetBank was reportedly taken to court by The Higher and Tertiary Education Minister after student funds in excess of millions got stuck in the bank. Professor Murwira in his summons which also cited the RBZ as a respondent is demanding that the bank release funds amounting to US$1 597 662,68 which have been stuck in the bank since 2013.
The summons filed by the Professor reads in part:
In 2013, the bank started to show signs of failing to release money deposited by the College. Efforts to negotiate methods to get the money were fruitless,” read the summons.
Despite demand, the bank failed, refused or neglected to release the money. Plaintiff prays against the Defendant for refund of US$ 1 597 662,00,
According to New Zimbabwe, professor Murirwa wants MetBank to pay the equivalent of close to US$1.6 million in RTGS and also be charged interest from the day of the filling of the summons till the day they eventually release the funds.
More: New Zimbabwe