The Secure Transaction (Movable Assets) Bill 2023 has been presented in the Jatiya Sangsad (JS) in Bangladesh, aiming to enable entrepreneurs to obtain bank loans by using movable assets as collateral. The bill proposes the establishment of a separate authority for the registration and regulation of such transactions, ensuring security for both borrowers and lenders. It defines 16 categories of movable assets, including shares, intellectual property rights, furniture, and vehicles. The borrower retains the right to collect revenue from the mortgaged assets for debt servicing. The bill allows for dispute resolution outside the court. While the Finance Minister supports the bill, opposition lawmakers express concerns about its impact on the banking sector. The bill has been referred to the Standing Committee on Ministry of Finance for further examination.
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