The Ministry of Tourism, Industry and Commerce has announced the full operationalization of Guyana’s Collateral Registry, which is an initiative aimed at advancing financial inclusion, transparency, and security within the country’s business environment.
The registry allows individuals and businesses to use movable property such as vehicles, equipment, inventory, consumer goods, farm products, petroleum or minerals, and receivables as collateral when seeking loans or credit.
The Tourism Ministry said it has worked collaboratively with the Attorney General Chambers and the Commercial Registry to bring the Collateral Registry into full operation.
“With the system now active, banks, automotive dealers, retail suppliers, and other credit-based businesses can register their security instruments directly through the Collateral Registry, facilitating more efficient, transparent, and enforceable credit transactions across Guyana’s financial sector. This will simplify lending processes and ensure that financial institutions and borrowers operate within a clear and reliable legal framework,” the Tourism Ministry noted in a statement.
The statement quoted Tourism Minister Susan Rodrigues as saying that the establishment of the Collateral Registry marks another important milestone in the Government’s agenda to create a more inclusive, efficient, and modern financial system.
The statement said the initiative forms part of the Government’s broader efforts 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 highlights that this achievement represents a major milestone in the Government’s digital transformation agenda within the financial sector, reflecting its commitment to modernizing systems, enhancing efficiency, and promoting
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