Businessmen and entrepreneurs will be able to take out bank loans against their movable assets as collateral if they do not have enough immovable properties.
The government is going to pass a new law introducing the provision.
The list of such movable assets includes raw materials for export products, work order, precious metals such as gold, certificates of deposits in banks and financial institutions and fruit-bearing trees.
The Financial Institutions Division has put up the draft of the proposed law on its website and sought public opinions on that.
The move is aimed at expanding access to bank credit, according to the draft.
Raw materials for making export products with proper documents as proof can be used as collateral. Gold, silver and other precious metals with certificates from any recognised authority on their weight and purity will also be regarded as collateral.
A well-known company's share certificate and documents of patent or intellectual property rights can be put as collateral as well.
Moreover, furniture, medicinal plants, electronic products, software, apps, agricultural products, minerals, vehicles, processed fish and livestock, values of which can be calculated, are on the list of movable assets to be used as collateral.
An official of the Financial Institutions Division said the bank demands collateral to give loans. Lands and buildings are taken as collateral.
At present, banks also disburse some loans against savings certificates and Deposit Pension Schemes but that is not applied to business loans.
After the draft is passed into a law, it will be easy to get loans for new businessmen and entrepreneurs of cottage, micro, small, and medium enterprises.