New Secured Transaction and Collateral Registry launched at 2024 Entrecon

Published by BBNTEAM at November 30, 2024

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Posted: Saturday, November 30, 2024. 10:02 am CST.

By Zoila Palma Gonzalez: In an exciting development for Belize’s business landscape, the Secured Transaction and Collateral Registry (STCR) was officially launched during the 2024 Entrecon event, hosted by BELTRAIDE.

The launch event featured remarks from Narda Garcia, CEO in the Office of the Prime Minister, who praised the collaborative efforts of the Financial Services Commission and the Belize Companies and Corporate Affairs team’s visionary leadership in bringing this transformative system to fruition.

Deputy Prime Minister Cordel Hyde also emphasized the STCR’s significant potential to empower micro, small, and medium-sized enterprises (MSMEs).

He highlighted how the new system will simplify access to financing and play a key role in driving economic growth.

During a Fireside Chat, Deputy Registrar Santiago Gonzalez outlined the many benefits of the STCR, which include providing legal certainty, enhancing cost-effectiveness, and enabling MSMEs to leverage moveable assets—such as equipment and inventory—as collateral for financing.

The STCR marks a major milestone in Belize’s financial infrastructure, offering a crucial tool for economic empowerment and growth.

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