News Tagged with “Capital Controls”

The Central Bank of Iceland building in Reykjavik.

Central Bank of Iceland concludes agreement with owners of offshore króna assets

12 Mar The Central Bank of Iceland has concluded an agreement with owners of offshore króna assets subject to special restrictions pursuant to Act no. 37/2016. Under the agreement, the Bank will purchase offshore króna assets from them in the amount of equivalent of close to 90 b.kr. at an exchange rate of 137.5 kr. per euro.

Prime Minister Bjarni Benediktsson, and Minister of Finance Benedikt Jóhannesson making today's announcement.

Iceland government lifts capital controls

12 Mar The Icelandic government called for a press meeting today at noon to announce that capital controls will be lifted as of Tuesday. New Rules on Foreign Exchange were published on the Central Bank of Iceland website today.

Icelandic banks receive improved credit rating

26 Oct International credit rating agency S&P Global Rat­ings has in the past few days raised the credit rating of all three of Iceland’s major banks.

Easier to buy foreign currency in Iceland from 1 January

14 Oct From 1 January next year, the general public in Iceland will no longer be required to produce proof of foreign travel abroad in order to withdraw foreign currency at banks.

Bjarni Benediktsson, Iceland's Finance Minister.

“Iceland’s króna will never be a full free-floating currency”

25 Aug Even after capital controls on the Iceland króna have been lifted, it is unlikely that it will ever again be a full, free-floating currency, Iceland’s Finance Minister has admitted.

Governor of the Central Bank of Iceland Már Guðmundsson (left), Finance Minister Bjarni Benediktsson (centre) and PM Sigurður Ingi Jóhannsson (right) at yesterday's press conference.

New legislation to significantly relax Iceland capital controls

17 Aug PM Sigurður Ingi Jóhannsson and Finance Minister Bjarni Benediktsson announced the new plans at a press conference yesterday afternoon held at the Icelandic Ministry of Finance and Economic Affairs.

GAMMA's London office.

Icelandic bankers back in London

8 Aug GAMMA Capital Management Limited, an Icelandic financial firm, has received authorisation to operate and offer financial services in the United Kingdom.

View on Iceland: Foodie heaven, Cricket and Capital Controls

6 Aug Once you finished browsing Iceland Monitor’s wide selection of news, events and features, you might like to have a look at some other Iceland-related material from around the world that we shall be collecting for you weekly.

Már Guðmundsson, Governor of the Central Bank of Iceland.

Iceland Central Bank eyes autumn for lifting capital controls

1 Jun Governor of the Central Bank of Iceland Már Guðmundsson has announced that “the objective is to be able to take decisive steps in lifting capital controls this autumn”.

Iceland passes new capital controls legislation

23 May The ‘offshore króna’ bill is the second stage of a multi-phase strategy to lift Iceland’s capital controls.

Már Guðmundsson, Governor of the Central Bank of Iceland.

“Now is the time to scrap capital controls in Iceland”

25 Apr Iceland will not get a better chance to successfully lift capital controls than now, the Head of the Central Bank of Iceland has told Icelandic MPs.

Iceland is a banana republic, according to German newspaper Süddeutsche Zeit­ung

Iceland: a nation run by charlatans?

7 Apr “The government will continue working on the same major projects it has been working on – and has achieved great success in,” says new PM Sigurður Ingi Jóhannsson.

Sigurður Ingi Jóhannsson, Iceland's new Prime Minister.

Iceland: New PM, government lives on

6 Apr Iceland’s two governing parties have just announced that they will remain in power until early general elections to be held in the autumn.

Photo: mbl.is/Heiðar Kristjánsson

Iceland króna to strengthen after capital controls

1 Apr Despite an initial period of uncertainty, the Icelandic króna is more likely to strengthen rather than weaken after capital controls are lifted, say analysts.

Icelandic króna (ISK).

Iceland to come out of capital controls in 2016

18 Mar 2016 An auction of offshore ISK is planned for the first half of this year, after which capital controls can be lifted, Icelandic Finance Minister Bjarni Benediktsson has announced.

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