Finanziamenti garantiti da emolumenti. Opportunità in Brasile, India e Cina

The CQS (Cessione del Quinto) is a personal loan secured by emoluments. It is a type of financing which is helpful for workers and families relying on people’s ability to produce income. The CQS is regulated by a complex normative apparatus which is specific of our country. Can this “local specialty” be extended outside the boundaries of Italy? What solutions those emerging countries which experienced a boom of millions of workers and retired people develop? Are there loans that can be assimilated to CQS? The work reports the findings of an analysis conducted on the markets of Brazil, China and India in order to determine the potential pervasiveness of the CQS. With this objective, the trends in household debt, the supply of secured loans, the dynamics of the labor market, the framework of the social security system, the regulation of the employment relationship, and the efficiency of the judicial structure were investigated in detail. Interesting opportunities emerge for each of the markets analyzed, even if with different characteristics. Brazil is one of the few countries where there are products similar to the CQS. However, the coverage of the demand seems still incomplete. In China and India, the consumer credit is in its embryonic phase with a high potential for development of the retail lending.