Regulatory Alerts2020-09-15
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Codification, Valuation and Registration of Movable Properties as Collateral for Credit
The National Bank of Ethiopia issued Directive No. MCR/02/2020 to standardize the codification, valuation, and registration of movable properties pledged as credit collateral. The directive mandates that financial institutions record pledged assets—including livestock, farm products, land use rights, and financial instruments—in the Movable Collateral Registry while assigning specific inspection, insurance, and default-handling duties to secured creditors, debtors, and the Ministry of Agriculture. It establishes clear valuation indicators, registration procedures, and contractual obligations to minimize creditor risk and streamline credit transactions against movable assets.
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