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Central Bank Recommends Exemption

By Iceland Review

The Central Bank of Iceland has recommended an exemption from the Foreign Exchange Act be given to the failed banks: Kaupthing hf., Glitnir hf., and LBI hf, RÚV reports.

At a meeting at Hannesarholt, Reykjavik, today, Finance Minister Bjarni Benediktsson said, “In short, the situation is such that I have received a consultation letter regarding the winding-up of every bank’s estate and there, the conclusion drawn is that it is correct to give an exemption from currency controls.”

He said the issue would be discussed in parliament soon.

The minister said the measures planned by the government were, in his opinion, the largest economic measures ever in Iceland.

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