POLOKWANE – The South African Reserve Bank (SARB) has reacted to a recent trend that has surfaced on social media in which bank notes are cut and used as part of artificial nail art.
Images and videos alike have surfaced on various platforms showing nail technicians cutting up bank notes and incorporating them into acrylic nails.
The Polokwane Observer spoke to the SARB quality manager Kabelo Nkoagatse who detailed reasons why the the act is illegal and associated implications on the perpetrators.
“We have picked up on the issue and we are investigating as the reserve bank,” he said.
Nkoagatse encouraged the public to remember that South African bank notes are not only used for trade but are also a means of celebrating the country’s heritage.
“We need to create awareness that our money needs to be handled with care,” he said.
You might also want to read: Take a look at South Africa’s new banknotes and coins
He also added that matters like this should be reported to the reserve bank as well as the South African Police Service with whom they will be working closely with to investigate the new trend.
“Appropriate sanctions will be handed to perpetrators in a court of law that will be decided by a magistrate,” he added.
According to law, it is illegal to deface, soil or damage a banknote and doing so means you are contravening Section 34(F) of the SA Reserve Bank Act 90 of 1989.
As a result, you may face charges of malicious damage to state property.
The SARB says a banknote is deemed mutilated when its condition requires special examination to consider the value, if any, to be paid. Such banknotes could be burnt, discoloured, decomposed, damaged with portions missing and/or contaminated.
The reserve bank visited Polokwane on Tuesday (May 9) for a Monetary Policy Forum for the first time since the pandemic began in 2020.
Different Polokwane economics professionals including teachers and University of Limpopo students joined the forum at Meropa Casino and Entertainment World for the interaction with SARB officials.
