On 3rd August 2026, the Environment and Climate Change Committee of the National Assembly held a consultation meeting with the Financial Institution Association of Bhutan (FIAB), seeking a presentation on the issues under the Movable and Immovable Property Act, 1999, faced by them.

The meeting was chaired by Hon. Ugyen Lama, Chairperson of the Committee and Member of Parliament for Dophuchen-Tading Constituency.

During the meeting, FIAB highlighted nine sections of the Movable and Immovable Property Act (MIPA), 1999, that have resulted in implementation challenges. They presented corresponding recommendations, including ensuring legal certainty, fair cost recovery, balanced access to finance, and modernization of the registration system, in line with the identified issues.

The Committee acknowledged the importance of addressing these concerns and noted that the MIPA, 1999 is due for amendment. However, the Committee requested FIAB to submit a comprehensive proposal outlining the proposed new section insertions and a suggested way forward to address the challenges currently faced by financial institutions.