Impact of Legal Incentives on “Credit Fraud†Criminal Offence

Rezana Balla and Alketa Elezi
Additional contact information
Rezana Balla: PhD., Lecturer, Marin Barleti University, Criminal Law Department Faculty of Law, Tirana, Albania

European Journal of Multidisciplinary Studies Articles, 2021, vol. 6

Abstract: Currently, the number of financial institutions has been increased in Albania, which provides Albanian citizens with access to various financial services, mainly to obtain financing services in the form of microcredit. Given the history of our people, not all the Albanian citizens have had opportunity to have access and to benefit from various financial services. Denial of financial services is an issue that has affected not only Albania, but also other small Balkan countries. The reasons for this denial are numerous, but among them, we can distinguish the lack of lending experience, as one of the common reasons for being excluded in these countries from the development of the financial sector. Taking into consideration that, the growth of financial institutions led to the growth of financial services by raising awareness and financial education of citizens. Finally, the Bank of Albania , as the supervisor of financial activities, intends to set a ceiling on the interest of consumer loans provided by non-bank financial institutions and commercial banks in Albania. This paper aims to present through a professional legal treatment all the challenges of the legal and institutional framework of the Bank of Albania, itself in undertaking this initiative. The questions we intend to answer through this paper are: Is the Bank of Albania legitimized to set a ceiling interest rate for consumer credit? What are the benefits or challenges that this initiative will bring to the financial sector? How will this regulation affect the criminal offense of "Credit Fraud"? How will the financial industry be designed after the implementation of the initiative? Will it have any impact on customer beneficial? etc.

Keywords: interest cap; consumer loan; financial serveces; credit fraud; microcredit (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://brucol.be/index.php/ejms/article/view/6818 (text/html)
https://brucol.be/files/articles/ejms_v6_i2_21/Balla2.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eur:ejmsjr:518

DOI: 10.26417/197rup75

Access Statistics for this article

More articles in European Journal of Multidisciplinary Studies Articles from Revistia Research and Publishing
Bibliographic data for series maintained by Revistia Research and Publishing ().