Usury under contemporary Maltese law : a comparative perspective

Abstract

This research primarily centres on the practice of usury in Malta, the lending of money at exorbitant interest rates, regulated by both Civil and Criminal laws. Chapter one aims to delve into the intricate reasons why individuals often resort to borrowing money from illicit sources, exploring the multifaceted factors that contribute to this phenomenon. The study's scope and objectives are delineated, paving the way for an elucidation of the methodology. Herein lies the essence of quantitative research intentions, meticulously outlined for clarity and purpose. The purpose of chapter two is to familiarise the reader with Maltese law and the contemporary legal environment by elucidating usury laws included in the Criminal and Civil Code. This chapter provides an in-depth comprehension of the legal backdrop surrounding the subject matter by thoroughly reviewing the relevant aspects of both laws. In chapter three, an in-depth analysis is conducted on the essential elements crucial to a lawsuit concerning usury. This chapter lays the groundwork for investigating whether the inclusion of usury into the Criminal Code has rendered Civil law remedies superfluous. Through a comprehensive examination, the discussion navigates through the intricacies of civil and criminal cases, drawing insights from the legal provisions and court decisions to provide a holistic understanding of the subject matter. Chapter four shifts focus to Italy, examining its legal perspective on usury as outlined in its statutory laws. This exploration sheds light on the Italian approach to usury, offering comparative insights that enrich the understanding of the subject matter within the broader regional context, where the comparative element will then be highlighted. To conclude, Chapter five will consist of a brief conclusion.