The FINANCIAL - Mongolian banks support reforms to increase SME lending: "The FINANCIAL -- On 19 October 2012 the Mongolian Bankers Association (MBA), in collaboration with the International Finance Corporation (IFC) and the European Bank for Reconstruction and Development (EBRD), hosted a half-day roundtable to discuss reforms needed in Mongolia to provide small and medium-sized enterprises (SMEs) and other borrowers with wider access to finance.
Secured Transactions Reform is an initiative to create a legal framework that will enable Mongolian lenders to secure loans with “movable collateral”. As the European Bank for Reconstruction and Development reported, this will involve the creation of a nationwide registry for equipment, accounts receivable, inventory and other types of movable collateral. The registry will provide real time information on priority interests against competing claims on the same collateral. As SMEs will be able to use more of their assets as collateral, the reform can contribute to increased access to finance."
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Secured Transactions Reform is an initiative to create a legal framework that will enable Mongolian lenders to secure loans with “movable collateral”. As the European Bank for Reconstruction and Development reported, this will involve the creation of a nationwide registry for equipment, accounts receivable, inventory and other types of movable collateral. The registry will provide real time information on priority interests against competing claims on the same collateral. As SMEs will be able to use more of their assets as collateral, the reform can contribute to increased access to finance."
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