Mali Financial Sector Assessment Program : Legal and Judicial Aspects of the Credit Environment

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作者：

World Bank

来源地址：

http://hdl.handle.net/10986/24271

关键词：

RECEIVER;  PLEDGES;  DEPOSIT;  WORKOUTS;  RESTRUCTURING TECHNIQUES;  LEGAL ENVIRONMENT;  CESSATION OF PAYMENTS;  LIQUIDATION;  PUBLIC DISCLOSURE;  INFORMATION SYSTEM;  MICROFINANCE SECTOR;  DEBTORS;  GUARANTEES;  SALARY;  FINANCIAL RESOURCES;  ECONOMIC ASSETS;  DEBTOR;  ASSET;  MORTGAGE;  DOMESTIC LAW;  LOAN;  REHABILITATION PROCEDURES;  OWNERSHIP;  DEBT OVERHANG;  COURT EMPLOYEES;  PAYMENTS;  TITLES;  CREDITORS;  CREDITOR;  PROVISION OF CREDIT;  BUDGET;  POSITION OF CREDITORS;  JUDICIAL DECISIONS;  CONCESSION;  FINANCIERS;  SETTLEMENTS;  EQUITY SWAPS;  DOMESTIC LAWS;  JUDICIAL PROCEDURES;  OWNERSHIP RIGHTS;  TRAINING FOR JUDGES;  MORTGAGES;  COMMON LAW COUNTRIES;  MOVABLE PROPERTY;  COMMERCIAL CODE;  BENEFICIARY;  LEGAL PROVISIONS;  ENFORCEMENT OF SECURITY;  TITLE;  GRACE PERIODS;  JUDGE;  RESTRUCTURING;  FORFEITURE;  COMMERCIAL COURT JUDGES;  INSOLVENT ENTERPRISES;  INTERNATIONAL TRADE LAW;  PAYMENT;  FINANCIAL INSTITUTIONS;  LAND REGISTER;  MARKETS;  DEBT;  COMMERCIAL COURTS;  JUDGES;  SMALL DEBTORS;  SETTLEMENT;  CREDITOR RIGHTS;  BANK CREDITORS;  NEGOTIATIONS;  BINDING DECISION;  LOANS;  POSSESSION;  GOOD FAITH;  BANK CREDIT;  LEGAL FRAMEWORK;  FINANCE;  JUDICIAL SYSTEM;  TRANSACTIONS;  LAND TITLES;  EQUITY;  TRADE LAW;  INTERNATIONAL TRADE;  LEGAL TOOLS;  FUTURE ASSETS;  FINANCIAL CRISIS;  FUTURE;  RETURNS;  CREDIT;  CONCESSIONS;  INVESTOR CONFIDENCE;  CLAIMS;  CREDIT INFORMATION;  PROPERTY;  CREDIT REPORTING;  OUT-OF-COURT WORKOUTS;  PAYMENT HISTORY;  RECEIVERS;  ASSETS;  COLLECTION PROCEEDINGS;  DEFAULT;  PERSONAL PROPERTY;  LAND REGISTRY;  FORCED SALE;  EVENT OF DEFAULT;  LAND TITLE;  CREDIT INFORMATION SYSTEM;  ENFORCEMENT;  INSURANCE;  ACCESS TO CREDIT;  MICROFINANCE;  DIRECT PAYMENT;  INVESTOR;  LIQUIDATION PROCEEDINGS;  SECURITY;  FINANCIAL SITUATION;  INSOLVENT;  MORTGAGE SYSTEM;  CIVIL LAW;  IMMOVABLE PROPERTY;  INSOLVENCY;  JUSTICE SYSTEM;  INVESTMENTS;  INTERNATIONAL LAW;  LENDING;  IMMOVABLE ASSETS;  UNDERLYING ASSET;  BANKING LAW;  FINANCIAL SYSTEMS;  INSOLVENCY LAW;  COMMON LAW;  LAND MANAGEMENT;  CREDIT INSTITUTIONS;  GUARANTEE;  BUSINESS LAW;  CLAIM;  COMMERCIAL COURT;  REAL PROPERTY;  ESTATE;  Report; 

年份：

2015

出版地：

Washington,USA

语种：

English

摘要：

A country’s legal and judicial environment can help or hinder access to credit. In addition to the banking law governing the organization of the sector, the operations of credit institutions are subject to several laws. Four components of Malian business law are particularly relevant in assessing the position of creditors, the law on secured transactions, the law on collective proceedings, the law on information-sharing related to debtors (sometimes called the credit reporting law), and the law on collection and enforcement proceedings. If creditors cannot have confidence in their legal environment, they will be inclined to lend only to persons they know well. In this regard, it is telling to note that in Mali, the 50 biggest clients account for 39.3 percent of the credit extended by banks (although this percentage has fallen in recent times). Furthermore, access to credit remains a major constraint in the Malian business world. Although the reasons are not confined solely to the legal sphere, it is important to point out that, according to the 2010 Enterprise Survey, Malian enterprises cited access to credit as the main constraint hampering the business environment (43.9 percent of enterprises). The same study showed that in the case of loans involving a security right, the value of the assets pledged stood at 201.4 percent of the amount borrowed, reflecting the lack of confidence by banks in their ability to actually enforce their rights. In addition, in view of the fact that 58 percent of loans require a pledged asset which, in most instances, takes the form of immovable property, persons who do not own such assets are, de facto, shut out of the system and unable to seek credit.