New Secured Transactions Registry to Help Expand Financing for Small Businesses in Sri Lanka

Small and medium enterprises (SMEs) in Sri Lanka are set to benefit from the newly established Secured Transactions Registry (STR), which aims to facilitate the use of moveable assets as collateral for loans while ensuring financial stability and fostering economic growth in the country.

With technical assistance from the International Finance Corporation (IFC), the new Secured Transactions Registry Act aims to address legal and operational challenges in the existing law. This is a collective effort led by the Credit Information Bureau (CRIB), in collaboration with the Central Bank of Sri Lanka and the Ministry of Finance.