Secured Transactions Law (draft): CBM held a meeting on Secured Transactions Law (draft)

A meeting regarding Secured Transactions Law (draft) was held on 18th December and the Governor of the Central Bank of MyanmarDaw Than Than Swe delivered the opening speech.

The drafting of the Secured Transactions Law is aimed at creating a market where movable property can be used as collateral for loans in Myanmar. This is to improve the accessibility of loans for businesses, especially micro, small, and medium-sized enterprises (MSMEs), and to strengthen the legal framework of secured transactions by registering movable assets.

The goal is to ensure that secured interests are legally enforceable and that disputes related to these interests can be resolved according to this law. Once the Secured Transactions Law is enacted, it will facilitate easier and faster access to loans for MSMEs and export-oriented businesses, contributing to the economic development of the country. The Governor also provided guidance on the necessary steps for the law (draft) implementation.

Governor and Vice Governors from the Central Bank of Myanmar, officials from the Ministry of Planning and Finance, Financial Supervisory Authority, and the Central Bank of Myanmar attended the meeting.