Protection of Personal data/Why are banks asking questions?

Does all information about the customer is confidential?

Banks are obligated to guarantee the confidentiality of their customers’ identity, accounts, deposits and transactions (Credit Institutions Law, Section 61).

Information, which the credit institution acquires in providing financial services in accordance with a contract, regarding a client and their transactions is non-disclosable information and does not contain official secrets (Credit Institutions Law, Section 62, Paragraph 5).

A bank may only provide this information to the customer and their representatives, or to state institutions and state officials, in accordance with the procedures laid down in the Credit Institutions Law (Credit Institutions Law, Section 63).