Wednesday, November 11, 2020

Singapore to stop printing $1,000 banknotes from 2021

Source Website: https://www.asiaone.com/singapore/singapore-stop-printing-1000-banknotes-2021
By Reuters, Asiaone, 03 November 2020 at 01:23 pm


Existing $1,000 notes in circulation can continue to be used for payment, and remain legal tender.
PHOTO: Existing ＄1,000 notes in circulation can continue to be used for payment, and remain legal tender.
Photo by Mas.gov.sg
By Reuters, Asiaone, 03 November 2020 at 01:23 pm
https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjAhrbDckTTFpZwFm-rJvtMVZOkCBQk3tvhLhldNmAsown0zajpXgx5h5IWwYdxPPuxyal6M4tL9_Cilm3JmVkaqAHnjUM-wDNp5WL_aLD_-pGBFhv4ixIwb_3Ar9KNG-tI96P9ELWJF9A/s800/20201103_thousanddollarnote_mas.jpg
https://www.asiaone.com/sites/default/files/styles/article_main_image/public/original_images/Nov2020/20201103_thousanddollarnote_mas.jpg?itok=pMCxeqYV
https://www.asiaone.com/singapore/singapore-stop-printing-1000-banknotes-2021


SINGAPORE - Singapore will stop printing ＄1,000 banknotes from Jan 1 next year, its central bank said on Tuesday, to curb the risk of them being used for money laundering and to finance terrorism.


Singapore to discontinue issuing 1,000-dollar notes as of 01 November.2021.
PHOTO: Singapore to discontinue issuing 1,000-dollar notes as of 01 November.2021.
The Monetary Authority of Singapore plans to discontinue the issuance of 1,000-dollar notes from 1 January 2021 as a pre-emptive measure to mitigate the higher money laundering and terrorism financing risks associated with large denomination notes.
Picture posted by BanknoteNews
https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgi35dlY_JbEZ2GZ3jCaiIQMAPmey1LeAl3_khHkyXE-SxA7ZYlAZpWxAtJ5DAstXP7Cv-ZTyNPE-u23vwMOvbJKm5tDz6jV0eAQUTCuOfPn-qyAOz_6z-qa2E1wvYszsP3MVxkcVvCZWE/s1536/Singapore_BCC_1000_dollars_1999.09.09_B137as1_P43_8PN_000008_f-1536x727.jpg
https://banknotenews.com/wp-content/uploads/2020/11/Singapore_BCC_1000_dollars_1999.09.09_B137as1_P43_8PN_000008_f-1536x727.jpg
https://banknotenews.com/?p=31295


Existing notes will remain legal tender and banks can continue to re-circulate the notes, the Monetary Authority of Singapore said in a statement.


Existing notes in circulation will remain legal tender and can continue to be used as a means of payment.
PHOTO: Existing notes in circulation will remain legal tender and can continue to be used as a means of payment.
Picture posted by BanknoteNews
https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjqMP19vEDB3dWlXuzbLLQcnlqp4bQAifcA3xKeiV8mp1qn-6DAltRBkqZC7Vff5kn0Y2goTAeAvyvO5PLoFTjtNHx3QyEEUL5i7EQha1dF7fIljLzMj_rKGD4KXZ3eGFnOTtLORnW1sbc/s1536/Singapore_MAS_1000_dollars_2009.00.00_B207b_P51_2AC_130081_r-1536x737.jpg
https://banknotenews.com/wp-content/uploads/2020/11/Singapore_MAS_1000_dollars_2009.00.00_B207b_P51_2AC_130081_r-1536x737.jpg
https://banknotenews.com/?p=31295


Countries around the world have been looking to phase out high denomination notes for years over concerns they are used predominantly for criminal activity. European authorities halted the printing of the 500 euro (S＄790) note last year.


Countries around the world have been looking to phase out high denomination notes for years over concerns they are used predominantly for criminal activity. PHOTO: Countries around the world have been looking to phase out high denomination notes for years over concerns they are used predominantly for criminal activity.
Picture posted by Numismag - 500 euro banknote
https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEglSl8dM2tc-qi_OFuRsY-R5w93n8ilom0AhSjLQjM_jpu08y8QZn_R6XTlIjGgH2LQ_eK4-KPPEgkTRySl6ZRJgWEa49gEB1cc9QMeyHlM_ijv5R-lH9osZjl0luHuUoWQFIQkQ8uWlZA/s798/500-euros-banknote-1-1.jpg
https://numismag.com/wp-content/uploads/2019/01/500-euros-banknote-1-1.jpg
https://numismag.com/en/2019/01/06/the-end-of-the-500-euro-banknote-for-january-2019/


European authorities halted the printing of the 500 euro (S$790) note last year.
PHOTO: "You must not bring the earnings of a female prostitute or of a male prostitute[a] into the house of the Lord your God to pay any vow, because the Lord your God detests them both." (Deuteronomy 23:18).

This is essentially a law against money laundering. The principle that God doesn’t want dirty money calls to mind the story of Judas and the 30 silver coins he got from betraying Christ (Matthew 27:5).

Serious wrongdoing can only be erased before God if there is a turning of the heart (Ezekiel 18:31). More important than the amount a person or entity donates to a charity are the spirit and means that were used to acquire that money. Was it whole-hearted honest labor? Was it through the sale of something dear and valuable?

If we are living morally unclean lives, we cannot just buy a seat in the house of God’s true worship. Salvation would be a mere illusion (Ezekiel 7:19). [2]

"But seek first his kingdom and his righteousness, and all these things will be given to you as well." (Matthew 6:33).
Artwork by Ruiz Burgos (Juan Carlos Ruiz Burgos) - Catwomen, The Saturday Evening Post
Picture posted by Jamie Smart@jamiesmart on 04 April 2016 at 4:50 am
https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEis2v0xGbW4viqoRF0g3BB-vFtOzIWOXh0H-CliCoJ4eb3L00lbaEbWngrnsQwpToGky9H8W5-8iVk__jvUQXRoTmRPeNxgIzRRzsocRHcNBIDZbrJBD4t6nOVTiAYhX0m-ArnLRJle0cg/s1488/CfJV01dWwAEm8tv.jpg
https://pbs.twimg.com/media/CfJV01dWwAEm8tv?format=jpg&name=large
https://twitter.com/jamiesmart/status/716729671883354113/photo/4

By Reuters, Asiaone, 03 November 2020 at 01:23 pm
Reference
[1] Reuters, Asiaone, Singapore to stop printing ＄1,000 banknotes from 2021, posted on 03 November 2020 at 01:23 pm, https://www.asiaone.com/singapore/singapore-stop-printing-1000-banknotes-2021

[2] Bible Reading Highlight, Money laundering, https://biblehilites.com/tag/money-laundering/


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