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Extraordinary times call for extraordinary measures.

Small towns in the US are now printing their own currencies to beat recession, says Telegraph UK.

It's an idea borrowed from the Depression Era of the 1930's when the currencies were known as "scrip". It is designed to boost local spending and keep money circulating within the community by bypassing the dollar. The net effect is to help both consumers and businesses struggling in the recession.

Under US law, small communities can produce their own currency so long as it does not include coins and does not resemble federally-issued money.

The mechanism allows a group of businesses to print a new currency which shoppers can then buy at a discount – typically one dollar will cost 90 to 95 cents – and spend at full value with participating companies.

According to some estimates, Telegraph says, there are now more than 75 local currency systems across the US, stretching from upstate New York to the less vibrant North Carolina.

Bank-issued shopping vouchers

Meanwhile, banks in Singapore are helping in the issuance of shopping vouchers to help themselves with fee-based income codenamed "Incentive Fees", Singapore Straits Times reports.

For example, retail fund CapitaMall Trust (CMT) will pay fees to DBS Bank and JP Morgan for issuing CapitaVouchers worth a few hundred thousand dollars.

The shopping vouchers can be redeemed at all the 12 malls owned by CMT, which include Plaza Singapura, Bugis Junction, Junction 8, Raffles City Shopping Centre, Funan DigitaLife Mall, Tampines Mall and IMM.

Besides, CapitaVouchers can also be redeemed at Clarke Quay, which is owned by CMT's parent, property giant CapitaLand.

Any creative copycat in Malaysia for all of the above? Capitaland is already in KL and Penang.