The Republic of Moldova will have a new information system for the management of securities collateral. It will replace the current outdated technological platform and will operate exclusively online, without paper documents, IPN reports.
The new system, called “Register of Movable Collateral” – SI RGRM, will be developed by the Ministry of Justice through the Agency for Digitization in Justice and Court Administration, with the financial support of the World Bank. The main objective is the electronic registration of security rights over movable property in a transparent, secure and operationally efficient manner.
The system will allow public authorities, courts, tax institutions and other relevant entities direct access to collateral data, thus supporting legal and economic processes. The system will also be accessible to the general public, including individuals, who will be able to check information on registered collateral in real time.
The new register will be integrated with other government platforms and will facilitate the automatic exchange of data with registers such as those for vehicles, agricultural machinery or securities.
The estimated budget for the development of the system is 2.5 million lei, covered by external funds. Further operating costs will be borne from the state budget, partly offset by fees charged to private users.
Movable collateral is movable property (machinery, equipment or stock) pledged by a person as security for a loan, and if the debt is not repaid, the lender has the legal right to repossess it to recover its money.
