Icelanders named in Panama papers buy ISK at a 20% discount

Icelanders named in Panama papers buy ISK at a 20% discount

RÚV reports that 21 Icelanders who’s names came up in the notorious Panama papers, purchased large amounts of ISK (Icelandic króna) at a 20% discount through the Central bank’s investment program.

The article states that the individuals are not necessarily being investigated by the tax authorities, but their identities remain anonymous.

The Central bank’s investment program aims at bringing foreign currency into the country by allowing investors to purchase ISK at a 20% discount. So far, 206 billion ISK have been sold, 72 of them bought by Icelanders or companies owned by Icelanders. According to RÚV, the Governor of the Central bank of Iceland, Már Guðmundsson, says all laws have been upheld regarding the investment program.