Fjármálayfirvöld

Fjármálayfirvöld is the Icelandic term for financial authorities. These are the institutions and bodies responsible for overseeing and regulating the financial sector within Iceland. Their primary objective is to ensure the stability, integrity, and efficiency of the financial system, protecting consumers and investors.

Key fjárm á l á yfirvöld in Iceland include the Central Bank of Iceland (Seðlabanki Íslands), which plays a crucial role in monetary policy, financial stability, and currency management. Another significant authority is the Financial Supervisory Authority (Fjármálaeftirlitið or FME), which is tasked with supervising banks, credit institutions, insurance companies, securities firms, and other financial market participants. The FME's mandate involves ensuring that these entities operate soundly and in compliance with relevant laws and regulations.

These authorities work in tandem to implement national and international financial regulations, combat financial crime such as money laundering and terrorist financing, and promote fair competition within the financial markets. Their work is essential for maintaining public trust in the financial system and for supporting economic growth and stability in Iceland. The specific responsibilities and powers of each fjármálayfirvald are defined by Icelandic legislation.