Collateral Registry now fully operational, boosting access to credit

Guyana’s Collateral Registry is now fully operational, marking a major step towards strengthening financial inclusion, transparency, and security within the country’s business environment.

The registry, established under the Security Interest in Movable Property Act, No. 20 of 2024, enables individuals and businesses to use movable property — including vehicles, equipment, inventory, consumer goods, farm products, petroleum or minerals, and receivables — as collateral when seeking loans or credit.

The system was developed in collaboration with the Ministry of Legal Affairs and the Commercial Registry, with support from the Inter-American Development Bank (IDB). With the registry now active, banks, automotive dealers, retail suppliers, and other credit-based businesses can register their security instruments directly through the Collateral Registry.

According to the Ministry of Tourism, Industry and Commerce, this development facilitates more efficient, transparent, and enforceable credit transactions, simplifying lending processes and ensuring both financial institutions and borrowers operate within a clear and reliable legal framework.

Subject Minister Susan Rodrigues said the establishment of the Collateral Registry marks another key milestone in the government’s efforts to create a more inclusive, efficient, and modern financial system.

She emphasised that the initiative forms part of the government’s broader agenda to improve access to credit — particularly for small and medium-sized enterprises (SMEs), women entrepreneurs, and vulnerable groups — by expanding the range of assets that can be used to secure financing.

Minister Rodrigues also highlighted that the achievement represents a major milestone in the government’s digital transformation agenda within the financial sector, reflecting its commitment to modernising systems, enhancing efficiency, and promoting greater accessibility to financial services across Guyana.

Minister Rodrigues expressed her sincere appreciation to the Inter-American Development Bank (IDB) for its financial and technical support in funding this important initiative, and to consultants IOS Partners and Dr. Tom Johnson, for their outstanding technical assistance and collaboration in its successful implementation.

Special acknowledgment was also extended to the Ministry of Legal Affairs team, including Attorney General and Minister of Legal Affairs Anil Nandlall, S.C., Mr. Reza Manraj, Registrar of Commerce, and Ms. Ananda Dhurjon, Legislative Drafting Consultant, as well as the team from MINTIC — Mrs. Safrana Cameron-Baird, Director of Commerce, and Ms. Alicia Robertson, Legal Officer — for their partnership, technical expertise, and commitment to implementing the reform.

The operationalisation of the Collateral Registry will benefit citizens, businesses, and financial institutions across the country.