The system of Securities Mortgage
This system allows the mortgaging of securities in an effective, rapid way and guarantees confidentiality which is required to deal with investors and the mortgaging creditors on the basis
The mortgage shall be registered on the securities upon submitting a form by the mortgaging creditor to the legal affairs department. The form shall contain all data and information needed to complete the mortgage operation, and the form shall be enclosed with a credit contract guaranteed by securities (containing the conditions), and the legal affairs department shall open a file for each mortgage operation and give it a serial number. To finalize the mortgage operation, the documents related to the operation shall be received from the legal affairs department, which shall review and verify it. Then the mortgage order file shall be referred to the central depository and registry department and the mortgage order shall be signed by the central depository and registry department or whom he deputizes.
The Central Depository and Registry Department shall perform the mortgage operation upon application by the bank (mortgaging creditor) with no liability on the part of the Stock Market. In the event of the investor's repayment of the debt due or the occurrence of any legal reasons that requires the lifting of mortgaging, the bank shall send an official letter with the bank's stamp addressed to the legal affairs department requesting lifting the mortgage on shares mortgaged for the bank's benefit. Once the letter has been delivered, the legal affairs department shall complete the required documents and forward the file to the central depository and registry department, which, in its turn shall enquire about the mortgaging investor's funds in the database for the benefit of the bank and make the securities immediately available in the investor's account.
The required documents needed to complete the operation of the registering the mortgage.
1. An official letter from the bank (mortgaging creditor) addressed to the stock market requesting the reservation on the balance of the investor (mortgaging debtor) in favor of the mortgaging creditor.
2. A duplicate copy of the mortgage contract signed between the mortgaging debtor and mortgaging creditor.
3. The investor’s Balance Account.
4. Filling out the designated forms.