Singapore to withdraw 10,000-dollar note 01.10.2014
Jul 02, 2014 04:41 PM Category: East and Southeast Asia
According to an article on The Real Singapore dated 2 July 2014, the Monetary Authority of Singapore will no longer issue the 10,000-dollar banknote (BCCS B38) as of 1 October 2014, but it will remain legal tender. With a face value equal to US$8,000, this note is tied with the 10,000-dollar note (BCMB B5) from Brunei for the circulating note with the highest face value in the world. This high denomination note is being withdrawn to reduce the risk of money laundering. The move was announced as part of "Combating Financial Crime: International and National Efforts," a keynote address by Ong Chong Tee, deputy managing director (Financial Supervision), Monetary Authority of Singapore at the ABS Financial Crime Seminar on 2 July 2014.
Courtesy of Stane Štraus (Polymer Bank Notes of the World).