Published by the government of Zimbabwe
3 October 2008
Harare — THE High Court has refused to hear as a matter of urgency an application by four depositors seeking to prohibit the Reserve Bank of Zimbabwe from limiting cash withdrawals after finding that the matter was not, after all, urgent.
Roger Chagwededza, Tinashe Gotora, Jackson Mabota and Precious Mwateyeni had brought their case under a certificate of urgency.
However, Justice Joseph Musakwa, after perusing the application, decided not to hear the case under the certificate and ruled that the application should join the normal civil case queue.
The four had petitioned the court to block the central bank from limiting depositors from withdrawing all their cash in the banks.
They argued that the daily limits were too little and also degrading in view of the number of trips one has to make to the bank to get enough cash.
Last week on Thursday, the central bank increased withdrawal limits for individuals from 1 000 to $20 000 while the maximum withdrawal limit for companies was set at $10 000.
In their application, the four also argued that new limits remained too low when compared to the high rate of inflation.
They wanted the cash withdrawal limits set by the central bank declared unlawful, inhuman, degrading and a violation of the right to life and other rights as enshrined in the Constitution of Zimbabwe and other international conventions.
Finance Minister Cde Samuel Mumbengegwi, the RBZ, CABS, Metropolitan Bank and POSB Bank are cited as respondents.
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