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An Authorization Letter For Claiming Money is a fundamental document in Malaysian financial transactions where one party needs to delegate the authority to collect funds to another. This document is commonly used when account holders are unable to personally collect funds due to illness, overseas travel, or other commitments. It must comply with Malaysian banking regulations, the Powers of Attorney Act 1949, and relevant anti-money laundering legislation. The letter typically includes detailed information about both parties, specific authorization scope, account details, and validity period. It's essential in both personal and corporate contexts, requiring proper witnessing and sometimes notarization to be legally valid. This document serves as a crucial tool in Malaysian business practices, particularly in situations involving overseas transactions, corporate representations, or personal inability to conduct financial transactions directly.

1. Date and Place: Current date and location where the letter is being executed

2. Recipient Details: Full name and address of the financial institution or party holding the money

3. Authorizer Information: Complete details of the person giving authorization, including full name, IC/passport number, and contact information

4. Authorized Person Information: Complete details of the person being authorized, including full name, IC/passport number, and contact information

5. Purpose and Scope: Clear statement of the authorization being granted, including the specific amount and account details

6. Duration of Authorization: Validity period of the authorization

7. Declaration of Sound Mind: Statement confirming the authorizer is of sound mind and giving authorization willingly

8. Signature Block: Space for authorizer's signature, witness signatures, and date