What is BIK
The Credit Information Bureau (BIK) is an institution established by the Polish Bank Association in 1991with the purpose of gathering, integrating and sharing history regarding the repayment of liabilities of customers of banks and SKOKs (credit cooperative unions). The credit history generated in this manner is an instrument that may be used to verify the credit-worthiness of a bank’s customer. The Credit Information Bureau processes both positive information submitted by individual institutions, and this negative regarding credits paid with delays.
The legal basis of operations of this institution is defined by:
- Article 105.1 4 of the Act of 29 August 1997 The Banking Law (Journal of Laws of 2002 no. 72, item 665 as amended)
- The Act of 29 August 1997 on Personal Data Protection (Journal of Laws no. 133 item 883 as amended)
- The Act of 9 April 2010 on Disclosure of Economic Information and Exchange of Economic Data (Journal of Laws of 2010 no 81 item 530)
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