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Posts Tagged ‘diplomacy’

Brunei and Singapore leaders celebrate 50th anniversary of currency agreement

Written by Rano Iskandar on . Posted in community, bank, Social News

 

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His Majesty Sultan Haji Hassanal Bolkiah Mu’izzaddin Waddaulah ibni Al-Marhum Sultan Haji Omar’Ali Saifuddien Sa’adul Khairi Waddien, Sultan and Yang Di-Pertuan of Brunei Darussalam and His Excellency Mr. Lee Hsien Loong, Prime Minister of Singapore jointly launched the new $50 commemorative notes issued by the two countries at the Instant Presidential Palace in Singapore this morning. Image taken by EPA.
 

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Officiating the ceremony to commemorate the milestone. Image taken by AFP.
 

His Majesty Sultan Haji Hassanal Bolkiah Mu’izzaddin Waddaulah ibni Al-Marhum Sultan Haji Omar’Ali Saifuddien Sa’adul Khairi Waddien, Sultan and Yang Di-Pertuan of Brunei Darussalam and His Excellency Mr. Lee Hsien Loong, Prime Minister of Singapore jointly launched the new $50 commemorative notes issued by the two countries in a ceremony held today at the Istana Presidential Palace, Singapore, to mark the 50th Anniversary of the Currency Interchangeability Agreement between Brunei Darussalam and Singapore.

The Currency Interchangeability Agreement took effect on 12 June 1967 between Brunei Darussalam and Singapore to facilitate improved economic and trade relations between the parties, and is a key economic cooperation between Brunei Darussalam and Singapore. It was signed by the then Chairman of the Brunei Currency Board (now known as Autoriti Monetari Brunei Darussalam) and the Chairman of the Board of Commissioners Currency, Singapore (which merged with the Monetary Authority of Singapore in 2002).

Under the Agreement, AMBD and MAS will accept the currency issued by the other, and to exchange it at par and without charge, into their own currency. Banks in both countries will accept for deposit from the general public and businesses, currency issued by the other country at par.

Through the years, the Agreement has brought about economic benefits and strengthened the financial links between Brunei Darussalam and Singapore. Today’s joint launch of the new $50 commemorative notes reaffirms to the public, retailers and financial institutions in both countries that Brunei Darussalam and Singapore currency notes are still interchangeable at par.

The commemorative notes will be made available to the general public both in Brunei Darussalam and Singapore from 2pm today, 5 th July 2017, while the circulation notes will be available from 2pm Friday, 7th July 2017 across all banks and their branches in both countries.

For more information on the 50th Anniversary of the Currency Interchangeability Agreement between Brunei Darussalam and Singapore, please visit AMBD’s website at www.ambd.gov.bn or download the AMBD App through the Appstore or Google Playstore.

There has been so much buzz on the commemorative notes from AMBD as many were interested in them. I won’t be surprised if the stocks they have currently will run out in a few days time. I’m hoping to get hold of them once I get back from my short trip.

 

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The new Brunei BND50 note
 

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The new Singapore SGD 50 note
 

Interesting fact: The special bills, which were jointly designed by Brunei’s Abdul Ajihis Haji Terawih, and Singapore artists Eng Siak Loy and Weng Ziyan, pay tribute to the ties between the two countries.

The front of the B$50 and S$50 notes remain unique to each sovereign nation – Brunei’s features a portrait of the Sultan, and Singapore one of its first president Yusof Ishak – the shared design on the back of these notes reflects “our common values, as well as key areas of our close cooperation, including in defence education and tourism.

The designs on the back include sketches of students, among other items.

The flowers in full bloom on the front symbolise “the flourishing friendship between the two countries”, a joint statement by the Monetary Authority of Singapore and its Brunei counterpart said.

The front also includes the 50th anniversary logo of the Currency Interchangeability Agreement, which came into effect on June 12, 1967.

 

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The Identical Numbered Notes Set and Brunei 3-in-1 Uncut Sheet. Limited stocks. Click image to enlarge.
 

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Brunei 8-in-1 Uncut Sheet and Brunei 40-in-1 Uncut Sheet. Limited stocks. Click image to enlarge.
 

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Coffee Table Book
 

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About RA

A blogger since 2002, using platforms from blogspot, joomla and now currently wordpress. A readership that stands on average of 20,000 visits per month. Also on active on social media platform on IG, Facebook and Snapchat (@ranoadidas)

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