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Secured transaction registry proposed

May 14, 2019

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ISLAMABAD: The federal government has entrusted the function of Secured Transaction Registry (STR) for unincorporated entities to the Securities and Exchange Commission of Pakistan (SECP).

The creation of STR will facilitate small borrowers from Small Medium Enterprises and agriculture sector to secure credit from financial institutions against their movable assets such as; receivables, intellectual property, inventory, agricultural produce, petroleum or minerals, motor vehicles etc.

It is likely that the establishment of STR will improve Pakistan’s ranking in getting credit indicator of the World Bank’s Ease of Doing Business index that requires establishment of an integrated or unified collateral registry to record security interests in movable assets by incorporated and unincorporated entities.

Published in Dawn, May 14th, 2019