Minister to launch Samoa’s credit registry

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Minister Lautafi Fio Purcell

Minister Lautafi Fio Purcell

A registry to increase access to credit by Samoa is to be launched next week.

Samoa’s Personal Property Security Register will be launched by the Minster of Commerce, Industry and Labour, Lautafi Fio Purcell, at the Taumeasina Island Resort on Monday.

The Registry will increase access to credit in Samoa by making it easy for lenders to secure their claim on ‘movable’ assets.

These include assets such as vehicles, accounts receivable, or even crops—that borrowers have pledged as collateral.

The Registry has been created with support from the Asian Development Bank’s Pacific Private Sector Development Initiative (P.S.D.I).

The event will be attended by key government and private sector officials – as well as officials from New Zealand and Australia.

Aaron Levine, International Business Law Reform Expert with P.S.D.I, will give a demonstration of how the registry works.

© Samoa Observer 2016

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