President Uhuru Kenyatta has signed into law the Movable property Security Rights Bill 2017. According to the presidency, the law “enhances...
President Uhuru Kenyatta has signed into law the Movable property Security Rights Bill 2017. According to the presidency, the law “enhances the ability to access credit using movable assets.”
‘‘The new law facilitates the use of moveable property as collateral for credit facilities, establishes the office of the Registrar of security rights as well as provides for the registration of security rights in movable property,’‘ Africa News quotes the presidency as saying. |
| Kenya Government Approves Bill To Allow Livestock, And Household Appliances To Be Used For Bank Loans |
Signed the Movable Property Security Rights Bill into law https://t.co/KVgzY1PcKz pic.twitter.com/Eeyf4G0sRf— Uhuru Kenyatta (@UKenyatta) May 10, 2017
The law will allow especially women, small-scale farmers and young people to secure bank loans as parts of efforts aimed at boosting the economy.
The head of Kenya bankers Association, Halil Olaka, lauded the new law stressing that it was ‘‘a good development for the industry.’
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