Regulatory Alerts2011-01-01
Circular No. 130: International Committee of the Red Cross Agencies
The Palestine Monetary Authority issued Circular No. 130 to mandate that all Palestinian banks accept International Committee of the Red Cross (ICRC) powers of attorney for prisoners, provided they meet specific verification criteria. The circular requires that these documents be signed by the prisoner in the presence of an ICRC representative, clearly state the principal and agent's identification details, specify a duration, be limited strictly to cash withdrawals, and bear official authentication from the Palestinian Ministries of Prisoners' Affairs, Justice, and Foreign Affairs. Banks are authorized to implement any additional legally compliant procedures necessary to process these verified ICRC agencies for financial transactions.
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