Examining Legal and Financial Aspects of Consumer Credit in Selected Countries of Western Balkans and Kosovo


Consumer credit, legal and financial aspects, Western Balkans, EU legislation


This research aimed to take both financial and legal aspect of the six countries of the Western Balkans: Albania, Bosnia and Herzegovina, North Macedonia, Kosovo, Montenegro and Serbia. From financial point of view, the study examined the volume of consumer loans and its impact on the consumer credit. From legal aspect, the study discussed how the Western Balkan countries regulated the consumer credit, whether they complied with the EU regulation especially with the Consumer Credit Directive and what challenges were faced in the process. By adopting the explorative and documentation research approach for data collection, the study found that a few initiatives had been taken on consumer credit in the Western Balkan countries which enabled making a comparison of their legal frameworks, particularly in comparison with Kosovo which had harmonized consumer credit and its challenges with a few legal initiatives under the European Union Directives.  The study recommends that in order to make a financial and legal analysis, it is essential to analyze the issues related to the level of consumer credit in each country. The legal framework of each of the Western Balkan (WB) should also be analyzed to examine the state of consumer credit, similarities and dissimilarities, alternatives for incorporating best practices in Kosovo case and how they are complying with the EU Consumer Credit Directive through the comparative method.