The Ministry of Tourism, Industry and Commerce (MINTIC) has announced the full operationalisation of the Guyana Collateral Registry, marking a major step in improving financial inclusion, transparency, and security within the country’s business and financial sectors.
The registry was developed through collaboration among the Ministry of Tourism, Industry and Commerce, the Ministry of Legal Affairs, and the Commercial Registry, with financial and technical support from the Inter-American Development Bank (IDB).
Established under the Security Interest in Movable Property Act, No. 20 of 2024, the new system allows individuals and businesses to use movable assets such as vehicles, equipment, inventory, consumer goods, farm products, petroleum or minerals, and receivables as collateral when applying for loans or credit, a release from the ministry said.
With the registry now fully operational, banks, automotive dealers, retail suppliers, and other credit-based entities can directly register their security interests online. This new system simplifies lending procedures, strengthens legal protection for both lenders and borrowers, and promotes greater efficiency across the financial landscape.
Minister of Tourism, Industry and Commerce Susan Rodrigues described the launch as a “landmark achievement” in the government’s drive to build a more inclusive and modern financial system. “The establishment of the Collateral Registry is another important milestone in our efforts to improve access to credit, particularly for small and medium-sized enterprises, women entrepreneurs, and other vulnerable groups,” Minister Rodrigues stated.
“It represents a critical step in our digital transformation agenda within the financial sector and reaffirms our commitment to modernising systems and expanding opportunities for all Guyanese.”
The Minister also express-ed appreciation to the Inter-American Development Bank (IDB) for its continued partnership and support, and to consultants IOS Partners and Dr. Tom Johnson for their technical assistance in developing and implementing the system.
Acknowledging the teamwork behind the project, Rodrigues extended gratitude to the Attorney General and Minister of Legal Affairs, Anil Nandlall, SC, along with Reza Manraj, Registrar of Com-merce, and Ananda Dhurjon, Legislative Drafting Consultant. She also recognised the dedication of the MINTIC team, including Safrana Cameron-Baird, Direc-tor of Commerce, and Alicia Robertson, Legal Officer, whose expertise and commitment ensured the successful rollout of this transformative initiative.
The fully functional Collateral Registry is now positioned to strengthen Guyana’s credit environment, making financing more accessible and secure for citizens, businesses, and financial institutions nationwide, the release said.