ARTUZ engages RBZ on cash withdrawal limit increase

The Amalgamated Rural Teachers Union of Zimbabwe (ARTUZ) has approached the Reserve Bank of Zimbabwe (RBZ) with a request for rural teachers to be allowed a once-off monthly cash withdrawal of ZWL1000.

Currently, most local banks allow a maximum withdrawal of up to ZWL300 a week.

Speaking to CITE, ARTUZ President, Obert Masaraure said their delegation met with central bank governor, John Mangudya in Harare on Thursday, to engage him on the matter.

“A delegation of ARTUZ leadership led by secretary general Robson Chere met with Reserve Bank Governor on Thursday at his offices as we had requested a meeting concerning teachers economic wellbeing,” said Masaraure.

He said the main agenda of the meeting was to request an increase in withdrawal limits in banks for teachers stationed in rural areas.

“We engaged the governor on the increase of withdrawal limits in banks that is affecting our members mainly those working and living in rural areas. The governor agreed to review the withdrawal limits after consultation with the Ministry of Education and banks to check how many teachers are in rural areas and how they can be distinguished from urban teachers,” said Masaraure.

“The bank will set a figure of $1000 that can be withdrawn at once by a rural teacher. The figure would be revised based on the availability of money.”

Masaraure added that the governor said he will also look into banks that can issue cash withdrawal services at centers in rural areas to reduce transport costs for the teachers.

“The governor said he will also investigate banks that can issue withdrawal services at centers in rural areas to minimise travelling costs for teachers to faraway towns to withdraw little salaries. This system is used by some banks that take cash to uniformed forces in barracks during paydays for withdrawal,” he said.

RBZ Governor Dr Mangudya confirmed having met a delegation from the union.

“They requested the Bank to consider increasing the withdrawal limit for teachers working in the rural areas in view of the fact that most of the funds that they draw are spent on transport to go to banks to withdraw part of their salaries,” said the Governor.

“We are considering their proposal that also requires us to engage banks and the line Ministry of Education. Once a decision is made we shall advise the relevant parties.”

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