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.
Palestine Monetary Authority
Palestine Monetary Authority
Circular No. (2011/49)
To All Banks Operating in Palestine
Date: Sunday, August 28, 2011
Subject: International Committee of the Red Cross (ICRC) Agencies (Prisoners' Agencies)
Following our Circular No. (2011/130) dated July 13, 2011, and based on consultations held between the Monetary Authority, the Supreme Judicial Council, and the Prisoners' Club Association to alleviate the suffering of prisoners and their families regarding prisoners' agencies related to banking transactions, and as a result of the Supreme Judicial Council's amendment of Article Six of Circular No. 20/2248 dated September 11, 2007, concerning the aforementioned subject, the mandatory conditions for prisoners' agencies are as follows:
A. The power of attorney must be signed by the principal (the prisoner) in the presence of the International Committee of the Red Cross and bear the ICRC's official stamp.
B. The power of attorney must be written in clear handwriting, and its text must not contain any erasures or deletions of any phrases.
C. The subject of the power of attorney must be specific and limited solely to cash withdrawal proxies.
D. The name of the principal (the prisoner) and their personal identification card number must be clearly visible.
E. The name of the agent and their personal identification card number must be clearly visible.
F. The power of attorney must be authenticated by the Ministry of Prisoners' Affairs.
Accordingly, ICRC agencies that meet the aforementioned conditions shall be accepted for conducting financial transactions at banks, and banks may take any other measures or steps consistent with the law for the purpose of accepting the aforementioned agencies.
Supervision and Inspection
Palestine Monetary Authority
Enclosed:
- Letter from the Supreme Judicial Council to His Excellency Dr. Jihad al-Wazir regarding the matter.
- Circular from the Supreme Judicial Council.
Ramallah - Al Bireh P.O.Box 452 - Tel: 02-2409920 - Fax: 02-2409922
Gaza - P.O.Box 4026 - Tel: 08-2825713 - Fax: 08-2844487
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Ramallah - Al Bireh - P.O. Box: 452 - Tel: 02-2409920 - Fax: 02-2409922
Gaza - P.O. Box: 4026 - Tel: 08-2825713 - Fax: 08-2844487