kerfisboðum

Kerfisboðum is a traditional Icelandic maritime system for allocating fishing quotas among fishermen and fishing vessels. The system is designed to manage and regulate the country's rich and limited fishing resources in a fair and sustainable manner.

Under the kerfisboðum system, the Icelandic Ministry of Fisheries and Agriculture is responsible for allocating total allowable catches (TACs) for various fish species. The ministry takes into account factors such as the long-term sustainability of fish stocks, the needs of the fishing industry, and the livelihoods of fishermen and their families.

The allocated catch quotas, known as "kerfs," are valuably distributed to individual fishermen and fishing vessels based on their fleet, size, and other criteria. Each vessel's share of the catch is recorded, and the allocated catch can be traded, transferred, or freely sold to minimize the variance of and deductions of possible fish quotas total.

Historically, the kerfisboðum has been essential for Iceland's economic development, as fishing industry plays a significant role in the country's energy and protein provides food. Since its introduction in the early 20th century the system has undergone several modifications to adapt to the changing needs of the fishing industry and more environmental concerns.