The Big Crash: Prayer Response to the Financial Crisis.
1. Acknowledge God
The global economic system is a system based on greed, personal gratification, lust for power and control, rather than on social justice, community responsibility and stewardship.
Acknowledge the hand of the Sovereign Lord in this global financial shaking, the worst so far. It is a redemptive instrument of God to —
• correct our wrongs (we reap what we sow).
• draw us back to Christ, our one and only security.
• teach us His ways.
• re-lay our foundations.
• mature us in His character.
• change us inside out.
Out of this shaking, may Singapore (Church and nation) emerge stronger and purer in God, refined to define the times.
Welcome the Sovereign Lord to establish His new economic order in our lives (personal and corporate) founded on His wisdom, truth, righteousness and justice.
2. Repent of our sins
Sins of self conceit.
Pride blinds
. Pride deceives.
. We have prided ourselves on our abilities.
We have relied on our own reasoning, resources and reputation, more than we have relied on God. We have put our trust in our leaders, our institutions, our systems more than we have trusted God.
Sins of unbridled greed
Use of dishonest scale, usury, extortion.
Sins of ingratitude.
Because of a scarcity mentality and unbridled greed.
Sins of injustice.
Because of unbridled greed, we exploit the poor and needy, the weak and the vulnerable for our own selfish gain. For example, the defrauding of migrant workers.
3. Renounce fears
Amid the global shaking, identify with the fears of our nation. Release to God our fears and renounce its grip over us.
Fear of economic failure.
Fear of being marginalised, being insignificant, fear of losing out.
Fear of brain drain and emigration: Singaporeans exiting the land.
Fear of losing our national sovereignty and identity.
4. Realign with God
Urgency to humbly pray like never before.
Grace and willpower to get out of debt.
Godly contentment to live well.
Godly wisdom and knowledge to lead well.
Fresh passion to glorify God in our daily lives.
Compassion to serve the poor and needy.
5. Prophetic Response
Big time giving in spite of the Big Crash!
Spirit of generosity.
Outrageous, cheerful giving even out of our own lack.
Transfer of wealth to eradicate systemic poverty.
Pray for a massive shift of financial resources to the righteous who serve the poor and needy.
Philanthropy movement
A new spirit of philanthropy among Singaporeans.
Ask the Lord to bring together His alliance of God-fearing wealth-creators for the benefit of the poorest of the poor in Asia.
6. Pray for MAS
Pray for MAS Directors by name.
That God will bless them in their personal lives and strengthen them in all aspects of their MAS responsibilities.
That God will protect them from unwise counsel.
That God will anoint them with wisdom, insight, foresight.
That God will grant them clear economic decisions and direction, fresh thinking and a new spirit of economic innovation, empowering Singapore to leapfrog into new economic arenas to fulfill His purpose!
Monetary Authority of Singapore
SOURCE: www.mas.gov.sg
MAS is the central bank of Singapore.
Our mission is to promote sustained non-inflationary economic growth, and a sound and progressive financial centre.
MAS’ Functions
To act as the central bank of Singapore, including the conduct of monetary policy,
the issuance of currency, the oversight of payment systems and serving as banker
to and financial agent of the Government To conduct integrated supervision of
financial services and financial stability surveillance
To manage the official foreign reserves of Singapore
To develop Singapore as an international financial centre
Board of Directors
Goh Chok Tong (Chairman)
Senior Minister
Mr Lim Hng Kiang (Deputy Chairman)
Minister for Trade & Industry
Mr Koh Yong Guan
Chairman, Central Provident Fund Board
Mr Lim Chee Onn
Executive Chairman, Keppel Corp Ltd
Mr Teo Ming Kian
Permanent Secretary, Ministry of Finance
Mr Tharman Shanmugaratnam
Minister for Finance
Mr Lucien Wong Yuen Kuai
Managing Partner, Allen & Gledhill
Professor Walter Woon
Attorney-General, AG Chambers
Mr Heng Swee Keat
Managing Director, MAS
Focus 1: A Life Changed
If anyone is in Christ, he is a new creation; the old has gone, the new has come! [2 Corinthians 5:17]
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