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Central Bank

New interbank payment system launched at the end of the week

19.10.2020

A new interbank payment system will be brought into use in Iceland on the evening of Friday 23 October. A large share of the financial transfers undertaken by individuals and companies in Iceland — i.e., debit card transactions and regular transfers of funds — are routed through the system, which services banks and financial institutions. The syste...

IMF Annual Meetings 2020

19.10.2020

Ásgeir Jónsson, Governor of the Central Bank of Iceland, participated in the Annual meetings of the International Monetary Fund 12-18 October, 2020.

Statement of the Monetary Policy Committee 7 October 2020

07.10.2020

The Monetary Policy Committee (MPC) of the Central Bank of Iceland has decided to keep the Bank’s interest rates unchanged. The Bank’s key interest rate – the rate on seven-day term deposits – will therefore remain 1%.

Announcement concerning Central Bank purchases of Treasury bonds

30.09.2020

At the beginning of May 2020, the Central Bank of Iceland began buying Treasury bonds in the secondary market, in accordance with the 23 March 2020 statement by the Monetary Policy Committee. According to that decision, the total amount purchased may range up to 150 b.kr. The Bank will announce the maximum bond purchase amount for each quarter in a...

Central Bank to continue programme of regular foreign currency sales

30.09.2020

From Thursday 1 October through the end of the month, the Central Bank of Iceland will sell 3 million euros per day to market makers in the interbank market for foreign exchange, for a total of 66 million euros during the month. The transactions will take place soon after the market opens in the morning, and no later than 10:00 hrs. They will be co...

Economic Indicators published

30.09.2020

The Central Bank of Iceland has published Economic Indicators on its website. Economic Indicators ​contains a quarterly summary of economic developments, a compendium of statistics, and an update on the position of the financial system. Economic Indicators is also published in Icelandic under the title Hagvísar Seðlabanka Íslands.

Further information on the interim measure on distribution of NOVIS products

30.09.2020

The Financial Supervisory Authority of the Central Bank of Iceland (FSA Iceland) makes reference to the 18 September 2020 press release on the interim measure announced by Národná banka Slovenska (National Bank of Slovakia, NBS) on products from NOVIS Insurance Company, NOVIS Versicherungsgesellschaft, NOVIS Compagnia di Assicurazioni, and NOVIS Po...

Financial Stability report published

23.09.2020

The Financial Stability report, second issue 2020, has been posted on this website. The Financial Stability report, second issue 2020, has been posted on this website. The Bank’s semi-annual Financial Stability report presents an overview of the position of the financial system, its strengths and potential weaknesses, and the macroeconomic and oper...

Statement of the Financial Stability Committee 23 September 2020

23.09.2020

The battle to control the pandemic is proving more protracted than previously hoped, exacerbating uncertainty and adversely affecting financial institutions’ loan portfolios, says in the statement of the Financial Stability Committee. It is important that financial institutions work diligently on debt restructuring and that they use the scope provi...

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Incentives

Iceland focuses on a favorable business environment, including low corporate tax, availability of land and green energy at competitive prices and efficiency within European legislative framework. New direct investment projects can apply for an investment agreement, ensuring generous regional incentives, including a corporate tax rate ceiling of only 15%.

Why Iceland

Along with having one of the lowest corporate tax rate in Europe, Iceland has a highly educated workforce which is ranked among the highest in the world, offers competitively priced renewable energy with an advanced infrastructure making Iceland an ideal location for investors