Bank Contracts in Albanian Legislation, Legal and Practical Issues in this Field

Abstract

Banks perform an economic activity that is based on principles similar to those of an ordinary business. Banking activity includes the acceptance of deposits of individuals, firms, etc. As a result of the major needs and demands of the economy, household credit, with pertaining high interest rates, the banking sector dynamics experienced a high development. This progress has emerged since the establishment of relations between these banks and individuals by creating a particular system of rights as the law of banking, the focus of which is in the relationship between banks and customers. This kind of relationship is focused on banking contract. Various problems that have emerged from the effect of agreements between parties have brought the need for rating this field of law. Except the provisions provided in the Civil Code about the banking contract, specific laws for the regulation of this relation were approved. As instance could be mentioned the Law on Banks in the Republic of Albania and the normative framework that addresses the whole activity of banks in the territory, upon which the Albanian state has sovereignty. Specific treatment is required about the relations of banks with the customers, where may arise major legal and economic difficulties, because banks are major monetary formations