Business Minister to Review Wages of Commissioners Skip to content

Business Minister to Review Wages of Commissioners

Minister for Business Affairs Gylfi Magnússon plans to enquire about the salaries of the members of the resolution committees responsible for the affairs of Iceland’s old commercial banks, saying that their wages should be “modest.”

There are 15 committee members in total, five on each resolution committee, Fréttabladid reports.

Since the committees were appointed in early October last year, their salaries have been up for discussion with some speculating that they earn up to ISK 5 million (USD 44,000, EUR 34,000) per month in addition to salaries for other employment that some of them have.

The Financial Supervisory Authority has declared that the committee members are paid according to the wage contracts of the appropriate labor unions, although some of them were hired as contractors.

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