Reforming Collateral Laws to Expand Access to Finance

Reforming Collateral Laws to Expand Access to Finance
Author: Heywood W. Fleisig
Publisher: World Bank Publications
Total Pages: 120
Release: 2006
Genre: Law
ISBN: 082136491X

Most readers, especially those with car loans or home mortgages, know about "collateral"--property that the lender can take away from the borrower in the event that the borrower defaults. In low/middle income countries, it is understood that conservative lenders exclude firms from credit markets with their excessive collateral requirements. Usually, this is because only some property is acceptable as collateral: large holdings of urban real estate and, sometimes, new motor vehicles. Microenterprises, SMEs, and the poor have little of this property but they do have an array of productive assets that could easily be harnessed to serve as collateral. It is only the legal framework which prevents firms from using these assets to secure loans. In countries with reformed laws governing collateral, property such as equipment, inventory, accounts receivable, livestock are considered excellent collateral. This book aims to better equip project managers to implement reforms to the legal and institutional framework for collateral (secured transactions). It discusses the importance of movable property as a source of collateral for firms, the relationship between the legal framework governing movable assets and the financial sector consequences for firms (better loan terms, increased access, more competitive financial sector), and how reforms can be put in place to change the lending environment.

UNCITRAL Model Law on Secured Transactions

UNCITRAL Model Law on Secured Transactions
Author: United Nations Commission on International Trade Law
Publisher:
Total Pages: 96
Release: 2016
Genre: Law
ISBN:

The "Model Law" deals with security interests in all types of tangible and intangible movable property, such as goods, receivables, bank accounts, negotiable instruments, negotiable documents,

Doing Business 2020

Doing Business 2020
Author: World Bank
Publisher: World Bank Publications
Total Pages: 254
Release: 2019-11-21
Genre: Business & Economics
ISBN: 1464814414

Seventeen in a series of annual reports comparing business regulation in 190 economies, Doing Business 2020 measures aspects of regulation affecting 10 areas of everyday business activity.

Gender Dimensions of Investment Climate Reform

Gender Dimensions of Investment Climate Reform
Author: Sevi Simavi
Publisher: World Bank Publications
Total Pages: 262
Release: 2010-01-06
Genre: Social Science
ISBN: 0821380982

The economic empowerment of women is increasingly seen as one of the most important forces behind economic growth and the fight against poverty. Indeed, women's economic participation in an economy as entrepreneurs, employees, and leaders is recognized as a measure of a country's dynamism and viability. 'Gender Dimensions of Investment Climate Reform' provides fresh solutions to common issues that women entrepreneurs face. It presents actionable, replicable, and scalable tools for promoting gender-sensitive investment climate reforms that would benefit both women and men. The book enables development practitioners and policy makers who are not gender specialists to diagnose gender issues in an investment climate; design creative and practical solutions and recommendations for addressing gender constraints; and monitor and evaluate the implementation of those recommendations.

Financial Inclusion: What Have We Learned So Far? What Do We Have to Learn?

Financial Inclusion: What Have We Learned So Far? What Do We Have to Learn?
Author: Adolfo Barajas
Publisher:
Total Pages: 51
Release: 2020-08-07
Genre:
ISBN: 9781513553009

The past two decades have seen a rapid increase in interest in financial inclusion, both from policymakers and researchers. This paper surveys the main findings from the literature, documenting the trends over time and gaps that have arisen across regions, income levels, and gender, among others. It points out that structural, as well as policy-related, factors, such as encouraging banking competition or channeling government payments through bank accounts, play an important role, and describes the potential macro and microeconomic benefits that can be derived from greater financial inclusion. It argues that policy should aim to identify and reduce frictions holding back financial inclusion, rather than targeting specific levels of inclusion. Finally, it suggests areas for future research.

Expanding Access to Finance

Expanding Access to Finance
Author:
Publisher: World Bank Publications
Total Pages: 122
Release: 2007-01-01
Genre: Social Science
ISBN: 0821371789

This book's prime audience is government policy-makers. It provides a policy framework for governments to increase micro, small and medium enterprises' access to financial services?one which is based on empirical evidence from around the world. Financial sector policies in many developing countries often work against the ability of commercial financial institutions to serve this market segment, albeit, often unintentionally. The framework guides governments on how to best focus scarce resources on three things: ? developing an inclusive financial sector policy; ? building healthy financial ins

Keeping Pace with Change: Fintech and the Evolution of Commercial Law

Keeping Pace with Change: Fintech and the Evolution of Commercial Law
Author: International Monetary Fund
Publisher: International Monetary Fund
Total Pages: 31
Release: 2022-01-27
Genre:
ISBN: 1616358750

This note explores the interactions between new technologies with key areas of commercial law and potential legal changes to respond to new developments in technology and businesses. Inspired by the Bali Fintech Agenda, this note argues that country authorities need to closely examine the adequacy of their legal frameworks to accommodate the use of new technologies and implement necessary legal reform so as to reap the benefits of fintech while mitigating risks. Given the cross-border nature of new technologies, international cooperation among all relevant stakeholders is critical. The note is structured as follows: Section II describes the relations between technology, business, and law, Section III discusses the nature and functions of commercial law; Section IV provides a brief overview of developments in fintech; Section V examines the interaction between technology and commercial law; and Section VI concludes with a preliminary agenda for legal reform to accommodate the use of new technologies.

Collateralized Transactions

Collateralized Transactions
Author: International Monetary Fund
Publisher: International Monetary Fund
Total Pages: 16
Release: 2020-02-19
Genre: Business & Economics
ISBN: 1513530704

In a response to a request from the G20 IFA Working Group, this note provides a framework for public lenders and borrowers to assess collateralized financing practices from a development perspective. The work of the IMF and World Bank suggests that the availability of collateralized financing can be beneficial to a developing country borrower under a range of circumstances, but also points to pitfalls.

Secured Transactions Law Reform

Secured Transactions Law Reform
Author: Louise Gullifer
Publisher: Bloomsbury Publishing
Total Pages: 616
Release: 2016-10-20
Genre: Law
ISBN: 1509903127

Secured transactions law has been subjected to a close scrutiny over the last two decades. One of the main reasons for this is the importance of availability of credit and the consequent need to reform collateral laws in order to improve access to finance. The ability to give security effectively influences not only the cost of credit but also, in some cases, whether credit will be available at all. This requires rules that are transparent and readily accessible to non-lawyers as well as rules that recognise the needs of small and medium-sized enterprises. This book critically engages with the challenges posed by inefficient secured credit laws. It offers a comparative analysis of the reasons and the needs for a secured transactions law reform, as well as discussion of the steps taken in many common law, civil law and mixed law jurisdictions. The book, written under the auspices of the Secured Transactions Law Reform Project, informs the debate about reform and advances novel arguments written by world renowned experts that will build upon the existing literature, and as such will be of interest to academics, legal practitioners and the judiciary involved in secured transactions law around the world. The text considers reform initiatives that have taken place up to the end of April 2016. It has not been possible to incorporate events since then into the discussion. However, notable developments include the banks decree passed by the Italian Government on 29th June 2016, and the adoption of the Model Law on Secured Transactions by UNCITRAL on 1st July 2016.

Global Financial Development Report 2014

Global Financial Development Report 2014
Author: World Bank Group
Publisher: World Bank Publications
Total Pages: 226
Release: 2013-11-07
Genre: Business & Economics
ISBN: 0821399853

The second issue in a new series, Global Financial Development Report 2014 takes a step back and re-examines financial inclusion from the perspective of new global datasets and new evidence. It builds on a critical mass of new research and operational work produced by World Bank Group staff as well as outside researchers and contributors.