Original scientific paper
Consolidated supervision of financial institutions and financial market in the Republic of Croatia
Zdenko Prohaska
Bojana Olgić Draženović
Abstract
The question of regulation and supervision of all parts of financial system is of major importance for any country. In order to protect the interest of the society and to accelerate the economic development, it is necessary to provide adequate legal framework as well as independent supervision institutions. The regulations refer mostly to maintenance of financial stability and consumer protection.
The article points out that the structure of the financial sector in the Republic of Croatia is underdeveloped and characterized by domination of the banking sector. Therefore, bank supervision is one of the main tasks of Croatian national bank and all other financial institutions (except banks) are regulated by other regulatory institutions. The problems of authority overlapping and insufficient regulation are becoming more complex by the development of financial sector and especially by the deregulation of financial markets. Because of that, it is reasonable to investigate the existing regulatory framework of Croatian financial system concerning its structure and development.
Keywords
Financial system; financial institutions; financial market; supervision
Hrčak ID:
6979
URI
Publication date:
24.6.2005.
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