Regulatory Alerts2011-01-01
Palestine Monetary Authority Circular No. (2011/49) - ICRC Agencies (Prisoners' Agencies)
The Palestine Monetary Authority issued Circular No. (2011/49) to establish mandatory conditions for prisoners' power of attorney agencies facilitating banking transactions. The directive requires that all such agencies be signed in the presence of the International Committee of the Red Cross, bear its official stamp, remain free of erasures, and be limited strictly to cash withdrawals. Additionally, the document mandates clear identification details for both principals and agents, authentication by the Ministry of Prisoners' Affairs, and authorizes banks to implement supplementary legal measures for agency verification.
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