LEGAL AND ECONOMIC ASPECTS OF COMPETITION PROTECTION IN THE BANKING SECTOR

Abstract

Competition protection in the banking sector should be made a priority issue in the state policy as the unhealthy environment in the banking services sector hinders the economic development, restrains the investment inflow, and affects the QoS. Fair competition and market discipline imply the strict rules of the game, effective system of punishment for non-abidance, ruling out of the double standards, and the legal restriction of banking management's and state officials' rights when their informal contacts are concerned.