Palestine Monetary Authority

PALESTINE MONETARY AUTHORITY

Circular No. (79/2018)
To all banks operating in Palestine
Date: Sunday, April 08, 2018

Subject: Cabinet Decision No. (07/194/17) for 2018

Attached for your information and action is the esteemed Cabinet Decision No. (07/194/17) for 2018 regarding a mother's right to open bank accounts for her minor children. Please take the necessary legal measures accordingly.

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Supervision and Inspection Department
Palestine Monetary Authority

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www.pma.ps

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Ramallah - Palestine P.O. Box 452 | Tel: +970 2 2415250 | Fax: +970 2 2415310 | Gaza - Palestine PO Box 4026 | Tel: +970 8 2825292 | Fax: +970 8 2844487 | Email: info@pma.ps

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State of Palestine

Cabinet of Ministers

Cabinet Decision No. (07/194/17) for 2018
Regarding a Mother's Right to Issue Passports and Open Bank Accounts for Her Minor Children

Based on the powers delegated to us by law
And in light of public interest requirements
And after reviewing the amended Basic Law of 2003 and its amendments;
The Cabinet decided in its meeting held in Ramallah on (5/3/2018) as follows:

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Article One

A mother is permitted to obtain passports for her minor children, subject to the provisions of laws concerning the travel of minors, in a manner that achieves their best interests.

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Article Two

1. A mother is permitted to open bank accounts and make deposits for her minor children, subject to applicable legislation regarding account management and suspension rules, in alignment with the best interests of her minor children.
2. The bank is obligated to notify the mother or guardian if either submits a withdrawal request from the minor's account, within three business days from the date of the request, in accordance with the minor's best interests.
3. The Palestine Monetary Authority shall implement the provisions of this decision and supervise compliance by all banks.

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Article Three

A mother has the right to transfer her minor children from one school to another, subject to applicable legal provisions.

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Article Four

All provisions conflicting with this decision are hereby repealed.

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Article Five

Competent authorities shall implement the provisions of this decision within their respective jurisdictions. It shall take effect from the date of issuance and be published in the Official Gazette.

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Issued in Ramallah on 5/3/2018.

Rami Hamdallah
Prime Minister

Signature and Official Seal of the Cabinet of Ministers

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