ISLAMABAD: Following the handing over secured transaction registry for unregistered institutions, the government has established Secured Transaction Registry in Security Exchange Commission of Pakistan (SECP) on Monday.
According to details, the registry will register charges and security interest on transferable assets of the registered business firms.
“The Registry has been established under the financial institutions’ secured transaction act 2016 and it will aim to form a complete legal framework that will provide a facility to register the security interest on the transferable assets of the unregistered business entities,” it said.
It will also help small and medium enterprises which relate to agriculture likes as Haqooq-e-Danish, Petroleum or minerals, motor vehicles, inventory and others to lend credit facility from financial institutions.
