Doha: The Prime Minister and Minister of Interior HE Sheikh Khalid bin Khalifa bin Abdulaziz Al Thani chaired the regular Cabinet meeting yesterday through video conferencing.
The Cabinet took necessary measures to issue a draft law on mortgaging movable funds after the Council of Ministers reviewed the recommendation of the Shura Council on the draft law.
The draft law aims to enable companies and individuals to obtain bank loans with the guarantee of mortgaged movables and contribute to reducing the cost of loans by creating a guarantee for banks to reduce the risk of defaulting payments, thus supporting small and medium enterprises and their contribution to the national economy.
Among the provisions contained in the draft law are the provisions related to the scope of application, the establishment of the electronic register in the Qatar Central Securities Depository and the data to be recorded in the register, the establishment and enforcement of the right of mortgage, and the rights of the mortgagee.
