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An Authorization Letter For Money Withdrawal is commonly used in Saudi Arabia when an account holder needs to delegate the authority to withdraw funds to another person. This could be due to various reasons such as travel, illness, business commitments, or physical inability to visit the bank. The document must strictly adhere to Saudi Arabian banking regulations, including SAMA guidelines and Islamic Banking principles. It typically includes the full details of both the authorizer and the authorized person, specific withdrawal amounts or limits, validity period, and any conditions or restrictions. The letter requires proper authentication and may need to be accompanied by supporting documentation such as identification papers and specimen signatures. This type of authorization is widely used in both personal and business contexts, providing a secure and legally compliant method for delegated banking transactions.
