Place of Microfinance Organizations in the Legal System of Azerbaijan, Albania and Portugal, Legal Analysis Compared to the Georgian Model
Abstract:
The article deals with the legal status and place of the microfinance organization in the legal system of Georgia and the developing countries and several countries of the European Union (Azerbaijan, Albania and Portugal), their comparative legal analysis in this regard and showing the positive/strong and negative/weak sides of the Georgian reality.
The author pays special attention to the place of microfinance organizations in the legal systems of developing and EU member states, the peculiarities of their status origin and development, characterization on the basis of normative and functional, comparative legal methodology, revealing common and distinguishing features in comparison with microfinance organizations in the Georgian legal reality.
The article also focuses on the systematized and standardized legal regime in which microfinance organizations operate, compared to the less developed legal systems (Azerbaijan, Albania) where their functions and scope are weak and less effective.
On the basis of the comparative-legal methodology, the obvious distinguishing legal features, strengths and weaknesses, which distinguish the microfinance organizations of Azerbaijan, Albania, Portugal and Georgia, are shown.
Keywords:
comparative, financial, status
