Regulatory Alerts2011-01-01
Circular No. 124: International Committee of the Red Cross Agencies
The Palestine Monetary Authority requires all Palestinian banks to accept International Committee of the Red Cross (ICRC) agencies for prisoners, contingent upon the banks facing no legal restrictions. Financial institutions must verify that each power of attorney is certified by the Palestinian Supreme Judicial Council, clearly legible, unaltered, and limited to a specific scope rather than granting general authority. Furthermore, the documents must explicitly and clearly state the full names and national identification numbers of both the prisoner-principal and the designated agent.
Palestine Monetary Authority
Palestine Monetary Authority
Circular No. (2011/24) To all banks operating in Palestine Date: Tuesday, July 05, 2011
Subject: International Committee of the Red Cross Agencies
In the framework of the Palestine Monetary Authority's efforts to preserve the quality of banking services provided by banks to their clients, and to meet the needs of prisoners and their families and alleviate their suffering, all banks are requested, after ensuring that the bank is not subject to any legal impediments, to accept International Committee of the Red Cross agencies ("Prisoners' Agencies"), subject to verifying the following conditions:
- The power of attorney must be certified by the Palestinian Supreme Judicial Council.
- The power of attorney must be written in clear handwriting, and no text within it may be crossed out.
- The subject of the authorization must be specific; general powers of attorney are not accepted.
- The principal's name ("the prisoner") and national ID number must be clearly legible.
- The agent's name and national ID number must be clearly legible.
Supervision and Inspection Department
Palestine Monetary Authority
Ramallah - Al Birah P.O. Box 452 - Tel.: 02-2409920 - Fax: 02-2409922
Gaza - P.O. Box 4026 - Tel.: 08-2625713 - Fax: 08-2844487
E-mail: info@pma.ps
www.pma.ps
Ramallah - Al Birah P.O. Box 452 - Tel.: 02-2409920 - Fax: 02-2409922
Gaza - P.O. Box 4026 - Tel.: 08-2625713 - Fax: 08-2844487