The regulations on pledge of property in The Civil Code 2015 and discussion on the pledge of deposit saving at the bank

Abstract

Pledge of property regulations have been defined very clearly in the Civil Code 2005 and codified in Article 307 to the Article 216 of the Civil Code 2015. In practice, there are some legal experts who work in credit institutions opine that the bank’s clients are entitled to use the fixed saving deposit book as collateral for a loan from the other bank. So, the use of this warranty should be considered as a mortgage or as a pledge of the property? In case of considering as the mortgage of property, does the fixed saving deposit book would be considered as a valuable paper and is it possible to allow the owner to claim a new fixed saving deposit book by declaring the lost? To find out the answer, we bring this issue in our study of the pledge of property regulations of the Civil Code 2015 by comparing the mortgage with the pledge of property to see the differences among these two security measures in applicable to the banking regulations regarding the fixed deposit saving in order to confirm that the said security measure is the mortgage.