Damascus-SANA
The Central Bank of Syria asked all operating banks to commit not to accept the implementation of cash withdrawal operations specifically from accounts opened with banks under a public or private agency organized by the notary public, regardless of the format of the said agency and the content of the powers of the agent in it, as of its date.
In a circular addressed to all operating banking financial institutions, which SANA obtained a copy of, the Central Bank stressed that the possibility of carrying out withdrawals that take place without the account holder should be limited to providing a special banking agency according to the form approved by each bank and the organization in accordance with the policies and procedures followed by it.
According to the circular, the Central also stressed that the procedures for organizing the private banking agency should include, at a minimum, “the presence of the principal and the agent in front of the concerned bank for at least one time when the private banking agency is approved, in addition to obtaining the agent’s signature form duly.”
According to what was stated in the circular, it comes “based on the Central’s competence to control and supervise operating banks and within the framework of following up on the use of fundamentalist agencies in general to carry out banking operations, and later to a previous circular from the Central regarding the rules for using public and private agencies regulated by the Notary Public in banking operations and the necessity of establishing the application of agencies Private banking according to the forms approved by banks and according to the laws and regulations in force.
Waseem Al-Adawi