President Uhuru Kenyatta today signed into law the Movable Property Security Rights Bill 2017, which enhances the ability to access credit using movable assets.
The new law facilitates the use of movable property as collateral for credit facilities, establishes the office of the Registrar of security rights as well as provides for the registration of security rights in movable property.
The Act also promotes consistency and certainty in securing financing relating to movable assets.
President Kenyatta signed the Bill before he travelled to the United Kingdom to attend the 3rd London Conference on Somalia.
Deputy President William Ruto, National Assembly Speaker Justin Muturi, Solicitor General Njee Muturi and National Assembly Majority Leader Aden Duale witnessed the signing of the Bill into law.