Protection of consumer rights and interests. Case of Kosovo

The aim of this paper is to elaborate the strategy and process of protection of customer rights and interests in Kosovo. The rights and interests of consumers in the domestic market are still not adequately protected, in a manner and form as is done in most countries of the European Union. The origin of the protection of the rights and interests of consumers in Kosovo began in 2004, with the approval of Consumer Protection Law (Law no. 2004/17) by the Kosovo Assembly. After the declaration of independence in 2008 and the approval of the Kosovo’s Constitution, a specific attention is paid to the customer protection where “consumer protection is guaranteed in accordance with the law” (Constitution of the Republic of Kosovo, Chapter IX, Section 119, paragraph 7, June 2008, Prishtina)

Government Securities Market in Kosovo: Overview and Recent Developments

This paper provides an overview of recent developments in government securities market in Kosovo. In contradistinction to similar studies of developed financial markets an analysis of developments in the Kosovo’s government securities market, meets certain difficulties and takes into account a number of assumptions, which are to be specifically noted. The Government of the Republic Kosovo has successfully begun issuance of Treasury bills since January 2012, but market development is still at an early stage. The Central Bank of the Republic of Kosovo maintains, records, trades and settles all government securities transactions through the BES,  which  term  includes  the  initial  electronic auction  sales  at  the  primary  auction,  electronic trading  and  the  central  securities  depository.  Most T-bills have been kept by the commercial banks for their own account, and six-month bills have been bought by institutional investors. As a result, no secondary market has yet developed. Capital markets are nonexistent

Economic Criminal Acts according to Criminal Code of Republic of Kosovo

This article analyses the criminal offences against economy in the Criminal Code of Kosovo, which are increasingly becoming an important object of study, both at national and international levels. The criminal offences against economy are in principle blanket nature offences, guiding nature, since the vast majority of such norms are further delineated in other bylaws, while the criminal code provisions provide on criminal offences, thereby guiding towards another legal or sub-legal provision. Economic and financial crimes in Kosovo are already making a remarkable increase, as proven by statistical records of state authorities. The increased rate of economic crimes is a result of many factors and circumstances present in Kosovo, which may be different from regional countries. The inefficient fight and prevention of organized crime and corruption in the period between 1999-2010 was stimulated and favoured by several specific factors that are elaborated in this article

New Institutional Economics and Economic Development of the Republic of Kosovo

The purpose of this study is the analysis of the new institutional economics according to parameters and criteria that affect the growth and economic development such as free movement of capital, contract enforcement, information costs, risk transfer costs, free competition and their application into practice. Institutional innovation, in terms of establishing more efficient and effective institutions, can only be done if there is support of the whole society, but given the limitations set forth in Kosovo, as possible change of the Constitution, some laws and other internal and external restrictions, the achievement of this goal is difficult. Because of the very specific and serious past, and also very long delay in the process of transformation and transition, the economic development and new institutional economics in Kosovo, according to almost all development indicators has significantly stagnated in comparison with the countries of the European Union and Western Balkans. Economic growth and development implies a very complex and multidimensional process, influencing many factors such as economic, technological, institutional, political, social and cultural. Economic growth depends on political institutions and their capacity to define in a more clear and acceptable way its common goals. Given the political dimension of the capacity of the state, certainly should be considered also the institutional approach of development i.e. political dimensions of the institutions that support economic development.&nbsp

A review of sources on terrorist financing

Terrorism financing is one of the most complex problems the democratic world is facing today. The transfer of funds to support terrorist activities has created enormous challenges across the world. This has fuelled several inter-religious and nationalist hate, and as such has put many nations into war with terrorist organisations. The main objective of this study is to review the sources of terrorist financing. The paper relies on secondary data that were drawn from various books, journals, as well as from institutional materials relevant to the issues raised. It concludes that terrorists are exploiting established financial systems at the global level to move their finances, and that informal systems remain the biggest challenge to thwart terrorist activitie

A Review of Sources on Terrorist Financing

Terrorism financing is one of the most complex problems the democratic world is facing today. The transfer of funds to support terrorist activities has created enormous challenges across the world. This has fuelled several inter-religious and nationalist hate, and as such has put many nations into war with terrorist organisations. The main objective of this study is to review the sources of terrorist financing. The paper relies on secondary data that were drawn from various books, journals, as well as from institutional materials relevant to the issues raised. It concludes that terrorists are exploiting established financial systems at the global level to move their finances, and that informal systems remain the biggest challenge to thwart terrorist activities

Economic Criminal Acts according to Criminal Code of Republic of Kosovo

This article analyses the criminal offences against economy in the Criminal Code of Kosovo which are increasingly becoming an important object of study, both at national and international levels. The criminal offences against economy are in principle blanket nature offences, guiding nature, since the vast majority of such norms are further delineated in other bylaws, while the criminal code provisions provide on criminal offences, thereby guiding towards another legal or sublegal provision. Economic and financial crimes in Kosovo are already making a remarkable increase, as proven by statistical records of state authorities. The increased rate of economic crimes is a result of many factors and circumstances present in Kosovo, which may be different from regional countries. The inefficient fight and prevention of organized crime and corruption in the period between 1999-2010 was stimulated and favoured by several specific factors that are identified and elaborated upon in this article

New Institutional Economics and Economic Development of the Republic of Kosovo

The purpose of this study is the analysis of the new institutional economics according to parameters and criteria that affect the growth and economic development such as free movement of capital, contract enforcement, information costs, risk transfer costs, free competition and their application into practice. Institutional innovation, in terms of establishing more efficient and effective institutions, can only be done if there is support of the whole society, but given the limitations set forth in Kosovo, as possible change of the Constitution, some laws and other internal and external restrictions, the achievement of this goal is difficult. Because of the very specific and serious past, and also very long delay in the process of transformation and transition, the economic development and new institutional economics in Kosovo, according to almost all development indicators has significantly stagnated in comparison with the countries of the European Union and Western Balkans. Economic growth and development implies a very complex and multidimensional process, influencing many factors such as economic, technological, institutional, political, social and cultural. Economic growth depends on political institutions and their capacity to define in a more clear and acceptable way its common goals. Given the political dimension of the capacity of the state, certainly should be considered also the institutional approach of development i.e. political dimensions of the institutions that support economic development

Determinants of commercial banks profitability through analysis of financial performance indicators: evidence from Kosovo

The purpose of this study is to elaborate whether the determinants of commercial banks’ profitability affect the financial performance of commercial banks in Kosovo. Performance evaluation of commercial banks in Kosovo is done through measurement of financial performance indicators such as Return on Average Equity (ROAE), Return on Average Assets (ROAA) and Net Interest Margin (NIM). The study identifies the main factors that affect the profitability of commercial banks through analysis of financial time series and panel data of the banking sector in Kosovo. The study presents three models of financial performance analysis which highlight the influencing factors. The models are based on regression analysis, and the obtained results emphasize the relationship between the determinant factors of commercial banks profitability expressed through analysis of financial performance indicators. The study concludes that commercial banks profitability in Kosovo is driven mainly by internal determinant factors such as capital adequacy, asset quality and management efficiency, while macroeconomic factors have insignificant impact on financial performance of commercial banks