Regulatory Alerts2018-01-01
Registration and Management Procedures for the Movable Collateral Register
The Central Bank of Djibouti issued Instruction No. 2018-02 to establish the operational procedures for registering, managing, and accessing a centralized movable collateral register. The directive mandates that financial institutions and secured creditors utilize the Bank's online application to submit registration forms containing debtor details, collateral descriptions, and values, while natural persons must attach identity documents and fee receipts. It further outlines the processes for modifying, searching, and de-registering collateral records, specifies that services are free for financial institutions in 2018 with future fees determined by the Central Bank, and officially repeals all conflicting prior provisions upon signature.
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