DUBAI, 17th July, 2017 (WAM) -- The Ministry of Finance, MoF, has assigned Emirates Development Bank, EDB, to create an electronic register to publicise related rights to ‘Mortgage of Movable Property’.
Khalid Ali Al Bustani, Assistant Under-Secretary of International Financial Relations Sector at the ministry and Rashid Mahboob Misbah, Acting CEO of EDB
, in Dubai signed an agreement to this effect. The collaboration aims to provide a legal and legislative environment for companies and projects to pledge their movable properties as security for loans from banks and financial institutions. The register grants the public access to the database. The EDB
© Copyright Emirates News Agency (WAM) 2017.