Printer Friendly

SECP appoints Registrar, Secured Transactions Registry.

ISLAMABAD -- The Securities and Exchange Commission of Pakistan has appointed Registrar, Secured Transactions Registry.

The appointment was made on wake of the federal government's notification to establish the Secured Transactions Registry,said a press release issue here on Thursday.

The registry has been mandated to implement an effective regulatory and enforcement mechanism for registration of charges/security interests created on assets by an entity, especially on the movable assets of borrowers.

Housed at the SECP head office, it will facilitate small-scale borrowers in obtaining secured credit from formal financial institutions.

The federal government issued the above-mentioned notification in exercise of the powers conferred upon it by section 19 (1) of the Financial Institutions (Secured Transactions) Act, 2016.

At present, a few sectors in Pakistan face constraints in obtaining secured credit from financial institutions.

Such inaccessibility is partially due to their inability to offer collaterals acceptable to the financial markets - hence the establishment of the registry is one of the most emphasized recent reforms.

COPYRIGHT 2019 Knowledge Bylanes
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2019 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Balochistan Times (Baluchistan Province, Pakistan)
Geographic Code:9PAKI
Date:Apr 5, 2019
Words:203
Previous Article:SC seeks copy of reference regarding Royal Palm Golf and Country Club.
Next Article:CDC makes IPO subscription easy for general public by automation.

Terms of use | Privacy policy | Copyright © 2019 Farlex, Inc. | Feedback | For webmasters