Update – Movable Assets Security Register Launched By Qatar Central Securities Depository

The Qatar Central Securities Depository ("QCSD") has finally launched the much awaited Security Register pursuant to the Law No. 16 of 2021 on the Mortgage of Movable Assets ("Movable Assets Security Law") and Decision No.1 of the QCB Governor on the procedures for regulating the moveable assets security register (the "Security Register Regulations"). The QCSD has issued a statement on its website announcing the launch of the Security Register.

In relation to the launch of the Security Register, Sheikh Saif Al Thani, Acting CEO of QCSD commented that . "the MCR is a vital system that contributes to protecting the rights of creditors, enabling participants in the Qatari, and regional market to access information on the rights of movable assets and enhancing transparency and confidence among users."