JOHANNESBURG – South African Reserve Bank Governor Gill Marcus has reiterated the bank’s ‘complete confidence’ in the country’s bank notes.
Speaking at the bank’s ordinary general meeting (OGM) in Pretoria, Marcus also had a warning for both South Africans and those visiting the country.’The bank continues to encourage South Africans to know their money and check security features, which can be found our website,’ Marcus said.The managing director of one of the SA Bank Note Company (SABN), the bank’s subsidiary which is responsible for printing banknotes for countries such as Namibia and Zambia, is currently on suspension and disciplinary action is being taken against him.The disciplinary action comes after concerns with quality standards in the company’s operations.The bank recently had a national campaign to recall all R200 notes, to issue new ones with better security features. The old R200 note was reportedly easy to counterfeit.- I-Net Bridge & Sapa
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