The Movable Property Security Rights Bill (2016) intends to help borrowers get financing from lenders using such movable assets as crops, livestock, machinery and inventories as collateral. In Liberia, farmers and entrepreneurs have been able to securitise movable assets with which they have acquired loans. Besides enhancing the ability of individuals and entities to access credit using movable assets, the bill will also promote consistency and certainty in secured financing relating to movable assets. We have developed the Movable Property Security Rights Bill, 2016 which provides for borrowing using movable assets as collateral, for enforcement of security rights by lenders and protection of borrowers using such collateral,” said Rotich in his budget statement. About $227 million (Sh23 billion) in loans have been registered since 2014 when the registry was launched in the country.

Source: Standard Digital June 13, 2016 16:52 UTC