Increasing Access to Credit through Reforming Secured Transactions in the MENA Region

This paper provides a comparative summary of secured transactions systems related to the use of movable property as collateral in the MENA region vis a vis international practices in countries with modern secured transactions systems. The paper set...

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Bibliographic Details
Main Author: Alvarez de la Campa, Alejandro
Format: Policy Research Working Paper
Language:English
Published: 2012
Subjects:
BID
TAX
Online Access:http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20110324112706
http://hdl.handle.net/10986/3379
id okr-10986-3379
recordtype oai_dc
repository_type Digital Repository
institution_category Foreign Institution
institution Digital Repositories
building World Bank Open Knowledge Repository
collection World Bank
language English
topic ACCESS TO CREDIT
ACCOUNT RECEIVABLES
ACCOUNTS RECEIVABLE
ARBITRATION
ASSET VALUE
AUCTIONS
BAILIFFS
BANK ACCOUNT
BANK ACCOUNTS
BANK DEBT
BANK FINANCING
BANK LOANS
BANKRUPTCY
BANKRUPTCY LAWS
BANKRUPTCY PROCEDURES
BENEFICIARIES
BID
BIDS
BONDS
BORROWER
CAPITAL STOCK
CASH FLOW
CASH FLOWS
CENTRAL BANK
CHECKS
CIVIL CODE
CIVIL CODES
CIVIL LAW
CLAIMANTS
COLLATERAL
COLLATERAL AGREEMENTS
COLLATERAL FOR LOANS
COLLATERAL IN SATISFACTION
COLLATERAL LAWS
COLLATERAL REGISTRATION
COLLATERAL REGISTRIES
COLLATERAL REGISTRY
COLLATERAL REQUIREMENTS
COLLECTION PROCESSES
COMMERCIAL CODE
COMMERCIAL CODES
COMMERCIAL LAW
COMMERCIAL MORTGAGES
COMMERCIAL REGISTRY
COMMON LAW
CONSUMER GOODS
CORPORATE GOVERNANCE
COURT ORDER
CREDIT ACCESS
CREDIT BUREAU
CREDIT BUREAUS
CREDIT DECISION
CREDIT ENHANCEMENT
CREDIT INFORMATION
CREDIT INFORMATION SYSTEM
CREDIT INFORMATION SYSTEMS
CREDIT LINES
CREDIT PROVIDERS
CREDIT SYSTEM
CREDITOR
CREDITOR PROTECTION
CREDITOR PROTECTIONS
CREDITORS
CREDITWORTHINESS
DEBT
DEBT COLLECTION
DEBT RECOVERY
DEBTOR
DEBTORS
DEBTS
DECENTRALIZATION
DEFAULTS
DERIVATIVE
DERIVATIVE PRODUCTS
DEVALUATION
DEVELOPING COUNTRIES
DISPUTE RESOLUTION
DOMESTIC BANKS
EMERGING MARKET
EMERGING MARKET COUNTRIES
EMERGING MARKETS
ENFORCEABILITY
ENFORCEMENT MECHANISMS
ENFORCEMENT OF SECURITY
ENFORCEMENT PROCEDURES
ENFORCEMENT PROCESS
ENFORCEMENT SYSTEM
ENFORCEMENT SYSTEMS
EQUIPMENT
ESTATE
FAIR MARKET VALUE
FAIR VALUE
FINANCIAL INFRASTRUCTURE
FINANCIAL INSTITUTION
FINANCIAL INSTITUTIONS
FINANCIAL SECTOR REFORMS
FINANCIAL SYSTEM
FINANCIAL SYSTEM STABILITY
FINANCIAL SYSTEMS
FLOATING PLEDGES
FORM OF COLLATERAL
FUTURE ASSETS
FUTURE DEBTS
FUTURES
HOLDING
HOUSING FINANCE
IMMOVABLE ASSETS
IMMOVABLE PROPERTY
INFORMATION ASYMMETRY
INFORMATION ON BORROWERS
INSTITUTIONAL FRAMEWORK
INSTITUTIONAL INFRASTRUCTURE
INSURANCE
INSURANCE POLICIES
INTANGIBLE
INTANGIBLE MOVABLE PROPERTY
INTANGIBLE PROPERTY
INTANGIBLES
INTELLECTUAL PROPERTY
INTEREST RATES
INTERNATIONAL BANK
INVENTORY
INVESTMENT CLIMATE
ISLAMIC BANKS
ISLAMIC FINANCE
ISLAMIC LAW
JUDGMENT LIEN
JUDGMENT PROCEDURE
JUDICIAL AUCTION
JUDICIAL ENFORCEMENT
JUDICIAL PROCESS
JUDICIAL SYSTEM
JURISDICTION
JURISDICTIONS
LEGAL FRAMEWORKS
LEGAL REFORMS
LEGAL RIGHT
LEGAL RIGHTS
LEGAL SYSTEM
LENDER
LENDERS
LENDING DECISIONS
LEVEL OF CREDIT
LEVERAGE
LIENS
LINE OF CREDIT
LOAN
LOAN AGREEMENTS
LOAN DEFAULT
MARKET VALUE
MATURITY
MONETARY FUND
MORAL HAZARD
MORTGAGE
MORTGAGES
MOVABLE ASSET
MOVABLE ASSETS
MOVABLE COLLATERAL
MOVABLE PROPERTY
MOVABLE PROPERTY AS COLLATERAL
MOVABLE PROPERTY REGISTRIES
NEGOTIABLE INSTRUMENTS
NON-PERFORMING LOANS
NONPERFORMING LOANS
NOTARIES
ORIGINAL ASSETS
ORIGINAL CONTRACT
PAYMENT OF DEBTS
PLEDGES
POSSESSORY SECURITY
PRIVATE CREDIT
PRIVATE CREDIT BUREAUS
PRIVATE ENFORCEMENT
PRIVATE PARTY
PRIVATE SALE
PRIVATE SALES
PRIVATE SECTOR CREDIT
PROPERTY RIGHTS
PROTECTION OF CREDITOR
PUBLIC ENFORCEMENT
PUBLIC RECORD
PUBLIC REGISTRY
REAL ESTATE AS COLLATERAL
RECEIVABLES FINANCING
REGISTRATION SYSTEM
REGISTRY SYSTEM
REGISTRY SYSTEMS
REGULATORY FRAMEWORKS
REPAYMENT
REPAYMENT PERIODS
REPOSSESSION
RETENTION OF TITLE
RIBA
RIGHTS TO PAYMENT
RISK MANAGEMENT
SALARIES
SALE OF ASSETS
SECURITIES
SECURITIES REGISTRATION
SECURITY AGREEMENT
SECURITY INTEREST
SECURITY INTERESTS
SEIZURE
SEIZURE OF ASSETS
SEIZURE PROCEDURE
SETTLEMENT
STATUTORY LIEN
STOCK EXCHANGE
STOCKS
TANGIBLE ASSETS
TANGIBLE MOVABLE PROPERTY
TAX
TOTAL DEBT
TRADE CREDIT
TRANSACTION
TRANSACTIONS LAW
TRANSACTIONS LAWS
TRANSACTIONS SYSTEM
TRANSACTIONS SYSTEMS
TRANSITION ECONOMIES
TRANSPARENCY
UNSECURED LOANS
VALUABLE ASSETS
WRITTEN CONTRACT
spellingShingle ACCESS TO CREDIT
ACCOUNT RECEIVABLES
ACCOUNTS RECEIVABLE
ARBITRATION
ASSET VALUE
AUCTIONS
BAILIFFS
BANK ACCOUNT
BANK ACCOUNTS
BANK DEBT
BANK FINANCING
BANK LOANS
BANKRUPTCY
BANKRUPTCY LAWS
BANKRUPTCY PROCEDURES
BENEFICIARIES
BID
BIDS
BONDS
BORROWER
CAPITAL STOCK
CASH FLOW
CASH FLOWS
CENTRAL BANK
CHECKS
CIVIL CODE
CIVIL CODES
CIVIL LAW
CLAIMANTS
COLLATERAL
COLLATERAL AGREEMENTS
COLLATERAL FOR LOANS
COLLATERAL IN SATISFACTION
COLLATERAL LAWS
COLLATERAL REGISTRATION
COLLATERAL REGISTRIES
COLLATERAL REGISTRY
COLLATERAL REQUIREMENTS
COLLECTION PROCESSES
COMMERCIAL CODE
COMMERCIAL CODES
COMMERCIAL LAW
COMMERCIAL MORTGAGES
COMMERCIAL REGISTRY
COMMON LAW
CONSUMER GOODS
CORPORATE GOVERNANCE
COURT ORDER
CREDIT ACCESS
CREDIT BUREAU
CREDIT BUREAUS
CREDIT DECISION
CREDIT ENHANCEMENT
CREDIT INFORMATION
CREDIT INFORMATION SYSTEM
CREDIT INFORMATION SYSTEMS
CREDIT LINES
CREDIT PROVIDERS
CREDIT SYSTEM
CREDITOR
CREDITOR PROTECTION
CREDITOR PROTECTIONS
CREDITORS
CREDITWORTHINESS
DEBT
DEBT COLLECTION
DEBT RECOVERY
DEBTOR
DEBTORS
DEBTS
DECENTRALIZATION
DEFAULTS
DERIVATIVE
DERIVATIVE PRODUCTS
DEVALUATION
DEVELOPING COUNTRIES
DISPUTE RESOLUTION
DOMESTIC BANKS
EMERGING MARKET
EMERGING MARKET COUNTRIES
EMERGING MARKETS
ENFORCEABILITY
ENFORCEMENT MECHANISMS
ENFORCEMENT OF SECURITY
ENFORCEMENT PROCEDURES
ENFORCEMENT PROCESS
ENFORCEMENT SYSTEM
ENFORCEMENT SYSTEMS
EQUIPMENT
ESTATE
FAIR MARKET VALUE
FAIR VALUE
FINANCIAL INFRASTRUCTURE
FINANCIAL INSTITUTION
FINANCIAL INSTITUTIONS
FINANCIAL SECTOR REFORMS
FINANCIAL SYSTEM
FINANCIAL SYSTEM STABILITY
FINANCIAL SYSTEMS
FLOATING PLEDGES
FORM OF COLLATERAL
FUTURE ASSETS
FUTURE DEBTS
FUTURES
HOLDING
HOUSING FINANCE
IMMOVABLE ASSETS
IMMOVABLE PROPERTY
INFORMATION ASYMMETRY
INFORMATION ON BORROWERS
INSTITUTIONAL FRAMEWORK
INSTITUTIONAL INFRASTRUCTURE
INSURANCE
INSURANCE POLICIES
INTANGIBLE
INTANGIBLE MOVABLE PROPERTY
INTANGIBLE PROPERTY
INTANGIBLES
INTELLECTUAL PROPERTY
INTEREST RATES
INTERNATIONAL BANK
INVENTORY
INVESTMENT CLIMATE
ISLAMIC BANKS
ISLAMIC FINANCE
ISLAMIC LAW
JUDGMENT LIEN
JUDGMENT PROCEDURE
JUDICIAL AUCTION
JUDICIAL ENFORCEMENT
JUDICIAL PROCESS
JUDICIAL SYSTEM
JURISDICTION
JURISDICTIONS
LEGAL FRAMEWORKS
LEGAL REFORMS
LEGAL RIGHT
LEGAL RIGHTS
LEGAL SYSTEM
LENDER
LENDERS
LENDING DECISIONS
LEVEL OF CREDIT
LEVERAGE
LIENS
LINE OF CREDIT
LOAN
LOAN AGREEMENTS
LOAN DEFAULT
MARKET VALUE
MATURITY
MONETARY FUND
MORAL HAZARD
MORTGAGE
MORTGAGES
MOVABLE ASSET
MOVABLE ASSETS
MOVABLE COLLATERAL
MOVABLE PROPERTY
MOVABLE PROPERTY AS COLLATERAL
MOVABLE PROPERTY REGISTRIES
NEGOTIABLE INSTRUMENTS
NON-PERFORMING LOANS
NONPERFORMING LOANS
NOTARIES
ORIGINAL ASSETS
ORIGINAL CONTRACT
PAYMENT OF DEBTS
PLEDGES
POSSESSORY SECURITY
PRIVATE CREDIT
PRIVATE CREDIT BUREAUS
PRIVATE ENFORCEMENT
PRIVATE PARTY
PRIVATE SALE
PRIVATE SALES
PRIVATE SECTOR CREDIT
PROPERTY RIGHTS
PROTECTION OF CREDITOR
PUBLIC ENFORCEMENT
PUBLIC RECORD
PUBLIC REGISTRY
REAL ESTATE AS COLLATERAL
RECEIVABLES FINANCING
REGISTRATION SYSTEM
REGISTRY SYSTEM
REGISTRY SYSTEMS
REGULATORY FRAMEWORKS
REPAYMENT
REPAYMENT PERIODS
REPOSSESSION
RETENTION OF TITLE
RIBA
RIGHTS TO PAYMENT
RISK MANAGEMENT
SALARIES
SALE OF ASSETS
SECURITIES
SECURITIES REGISTRATION
SECURITY AGREEMENT
SECURITY INTEREST
SECURITY INTERESTS
SEIZURE
SEIZURE OF ASSETS
SEIZURE PROCEDURE
SETTLEMENT
STATUTORY LIEN
STOCK EXCHANGE
STOCKS
TANGIBLE ASSETS
TANGIBLE MOVABLE PROPERTY
TAX
TOTAL DEBT
TRADE CREDIT
TRANSACTION
TRANSACTIONS LAW
TRANSACTIONS LAWS
TRANSACTIONS SYSTEM
TRANSACTIONS SYSTEMS
TRANSITION ECONOMIES
TRANSPARENCY
UNSECURED LOANS
VALUABLE ASSETS
WRITTEN CONTRACT
Alvarez de la Campa, Alejandro
Increasing Access to Credit through Reforming Secured Transactions in the MENA Region
geographic_facet Middle East and North Africa
Middle East and North Africa
Middle East and North Africa
relation Policy Research working paper ; no. WPS 5613
description This paper provides a comparative summary of secured transactions systems related to the use of movable property as collateral in the MENA region vis a vis international practices in countries with modern secured transactions systems. The paper sets out the importance of introducing reforms in the area of secured transactions with the objective of increasing access to credit for businesses, particularly SMEs. The MENA region clearly lags behind all other regions in the introduction of secured transactions reforms. The paper summarizes many of the weaknesses common across the region. The two main critical areas that need urgent reforms are the creation of modern secured transactions laws and electronic movable collateral registries, and the need to improve enforcement mechanisms for security interests in movable property.
format Publications & Research :: Policy Research Working Paper
author Alvarez de la Campa, Alejandro
author_facet Alvarez de la Campa, Alejandro
author_sort Alvarez de la Campa, Alejandro
title Increasing Access to Credit through Reforming Secured Transactions in the MENA Region
title_short Increasing Access to Credit through Reforming Secured Transactions in the MENA Region
title_full Increasing Access to Credit through Reforming Secured Transactions in the MENA Region
title_fullStr Increasing Access to Credit through Reforming Secured Transactions in the MENA Region
title_full_unstemmed Increasing Access to Credit through Reforming Secured Transactions in the MENA Region
title_sort increasing access to credit through reforming secured transactions in the mena region
publishDate 2012
url http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20110324112706
http://hdl.handle.net/10986/3379
_version_ 1764386886936166400
spelling okr-10986-33792021-04-23T14:02:09Z Increasing Access to Credit through Reforming Secured Transactions in the MENA Region Alvarez de la Campa, Alejandro ACCESS TO CREDIT ACCOUNT RECEIVABLES ACCOUNTS RECEIVABLE ARBITRATION ASSET VALUE AUCTIONS BAILIFFS BANK ACCOUNT BANK ACCOUNTS BANK DEBT BANK FINANCING BANK LOANS BANKRUPTCY BANKRUPTCY LAWS BANKRUPTCY PROCEDURES BENEFICIARIES BID BIDS BONDS BORROWER CAPITAL STOCK CASH FLOW CASH FLOWS CENTRAL BANK CHECKS CIVIL CODE CIVIL CODES CIVIL LAW CLAIMANTS COLLATERAL COLLATERAL AGREEMENTS COLLATERAL FOR LOANS COLLATERAL IN SATISFACTION COLLATERAL LAWS COLLATERAL REGISTRATION COLLATERAL REGISTRIES COLLATERAL REGISTRY COLLATERAL REQUIREMENTS COLLECTION PROCESSES COMMERCIAL CODE COMMERCIAL CODES COMMERCIAL LAW COMMERCIAL MORTGAGES COMMERCIAL REGISTRY COMMON LAW CONSUMER GOODS CORPORATE GOVERNANCE COURT ORDER CREDIT ACCESS CREDIT BUREAU CREDIT BUREAUS CREDIT DECISION CREDIT ENHANCEMENT CREDIT INFORMATION CREDIT INFORMATION SYSTEM CREDIT INFORMATION SYSTEMS CREDIT LINES CREDIT PROVIDERS CREDIT SYSTEM CREDITOR CREDITOR PROTECTION CREDITOR PROTECTIONS CREDITORS CREDITWORTHINESS DEBT DEBT COLLECTION DEBT RECOVERY DEBTOR DEBTORS DEBTS DECENTRALIZATION DEFAULTS DERIVATIVE DERIVATIVE PRODUCTS DEVALUATION DEVELOPING COUNTRIES DISPUTE RESOLUTION DOMESTIC BANKS EMERGING MARKET EMERGING MARKET COUNTRIES EMERGING MARKETS ENFORCEABILITY ENFORCEMENT MECHANISMS ENFORCEMENT OF SECURITY ENFORCEMENT PROCEDURES ENFORCEMENT PROCESS ENFORCEMENT SYSTEM ENFORCEMENT SYSTEMS EQUIPMENT ESTATE FAIR MARKET VALUE FAIR VALUE FINANCIAL INFRASTRUCTURE FINANCIAL INSTITUTION FINANCIAL INSTITUTIONS FINANCIAL SECTOR REFORMS FINANCIAL SYSTEM FINANCIAL SYSTEM STABILITY FINANCIAL SYSTEMS FLOATING PLEDGES FORM OF COLLATERAL FUTURE ASSETS FUTURE DEBTS FUTURES HOLDING HOUSING FINANCE IMMOVABLE ASSETS IMMOVABLE PROPERTY INFORMATION ASYMMETRY INFORMATION ON BORROWERS INSTITUTIONAL FRAMEWORK INSTITUTIONAL INFRASTRUCTURE INSURANCE INSURANCE POLICIES INTANGIBLE INTANGIBLE MOVABLE PROPERTY INTANGIBLE PROPERTY INTANGIBLES INTELLECTUAL PROPERTY INTEREST RATES INTERNATIONAL BANK INVENTORY INVESTMENT CLIMATE ISLAMIC BANKS ISLAMIC FINANCE ISLAMIC LAW JUDGMENT LIEN JUDGMENT PROCEDURE JUDICIAL AUCTION JUDICIAL ENFORCEMENT JUDICIAL PROCESS JUDICIAL SYSTEM JURISDICTION JURISDICTIONS LEGAL FRAMEWORKS LEGAL REFORMS LEGAL RIGHT LEGAL RIGHTS LEGAL SYSTEM LENDER LENDERS LENDING DECISIONS LEVEL OF CREDIT LEVERAGE LIENS LINE OF CREDIT LOAN LOAN AGREEMENTS LOAN DEFAULT MARKET VALUE MATURITY MONETARY FUND MORAL HAZARD MORTGAGE MORTGAGES MOVABLE ASSET MOVABLE ASSETS MOVABLE COLLATERAL MOVABLE PROPERTY MOVABLE PROPERTY AS COLLATERAL MOVABLE PROPERTY REGISTRIES NEGOTIABLE INSTRUMENTS NON-PERFORMING LOANS NONPERFORMING LOANS NOTARIES ORIGINAL ASSETS ORIGINAL CONTRACT PAYMENT OF DEBTS PLEDGES POSSESSORY SECURITY PRIVATE CREDIT PRIVATE CREDIT BUREAUS PRIVATE ENFORCEMENT PRIVATE PARTY PRIVATE SALE PRIVATE SALES PRIVATE SECTOR CREDIT PROPERTY RIGHTS PROTECTION OF CREDITOR PUBLIC ENFORCEMENT PUBLIC RECORD PUBLIC REGISTRY REAL ESTATE AS COLLATERAL RECEIVABLES FINANCING REGISTRATION SYSTEM REGISTRY SYSTEM REGISTRY SYSTEMS REGULATORY FRAMEWORKS REPAYMENT REPAYMENT PERIODS REPOSSESSION RETENTION OF TITLE RIBA RIGHTS TO PAYMENT RISK MANAGEMENT SALARIES SALE OF ASSETS SECURITIES SECURITIES REGISTRATION SECURITY AGREEMENT SECURITY INTEREST SECURITY INTERESTS SEIZURE SEIZURE OF ASSETS SEIZURE PROCEDURE SETTLEMENT STATUTORY LIEN STOCK EXCHANGE STOCKS TANGIBLE ASSETS TANGIBLE MOVABLE PROPERTY TAX TOTAL DEBT TRADE CREDIT TRANSACTION TRANSACTIONS LAW TRANSACTIONS LAWS TRANSACTIONS SYSTEM TRANSACTIONS SYSTEMS TRANSITION ECONOMIES TRANSPARENCY UNSECURED LOANS VALUABLE ASSETS WRITTEN CONTRACT This paper provides a comparative summary of secured transactions systems related to the use of movable property as collateral in the MENA region vis a vis international practices in countries with modern secured transactions systems. The paper sets out the importance of introducing reforms in the area of secured transactions with the objective of increasing access to credit for businesses, particularly SMEs. The MENA region clearly lags behind all other regions in the introduction of secured transactions reforms. The paper summarizes many of the weaknesses common across the region. The two main critical areas that need urgent reforms are the creation of modern secured transactions laws and electronic movable collateral registries, and the need to improve enforcement mechanisms for security interests in movable property. 2012-03-19T18:01:25Z 2012-03-19T18:01:25Z 2011-03-01 http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20110324112706 http://hdl.handle.net/10986/3379 English Policy Research working paper ; no. WPS 5613 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank Publications & Research :: Policy Research Working Paper Middle East and North Africa Middle East and North Africa Middle East and North Africa