Grain receipts will receive the category of hard collateral

President Kassym-Jomart Tokayev signed a decree on measures to expand the crediting of the real sector of the economy, reports World of NAN.

Thus, the President instructed the Government together with the National Bank and the Agency for Regulation and Development of the Financial Market (ARDFM) to ensure inclusion of grain receipts with guarantees of quasi-public sector entities in the category of hard collateral until December 31, 2023.

A grain receipt is a warehouse warrant in the form of a book-entry, non-issue security that confirms ownership of a certain amount of grain.

Farmers often encounter the problem of collateral when obtaining a loan. Mostly banks ask for expensive real estate. If the president's order is worked through, the grain receipt may become a hard collateral, and farmers will be able to take credit by mortgaging it.

In order to control the guarantee the President also ordered to take measures on the increase of the efficiency of the electronic monitoring of the circulation of the grain receipts and provision of safety of the volume and quality of the grain in the granaries (elevators and bakeries) by digitalization of the processes of obtaining reliable information about the volume and turnover of the grain.

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