STAKEHOLDER ENGAGEMENT ON COLLATERAL REGISTRY

By: Otieno Otiego

BRS with support of the Financial Sector Deepening (FSD) convened a stakeholder engagement on the draft Bills on Movable Property Security Rights & Hire Purchase at a Nairobi Hotel. This follows a call for public participation on May 14, 2024.

Other key issues deliberated included; tax incentives for HP businesses, proposed interest rates regulation by the Central Bank of Kenya (CBK) and integration of the MPSR registry & the National Transport and Safety Authority (NTSA) system.

Following this fruitful stakeholder engagement, BRS will embark on incorporating views and feedback from the stakeholders on the two draft bills in consultation with the key industry players.

The engagement brought together representatives from the Central Bank of Kenya, Kenya Revenue Authority, NTSA, Competition Authority of Kenya, LSK Nairobi, the Leasing Association of Kenya, financial institutions, law firms, car manufacturers and Hire Purchase businesses.