lánastofnun

Lánastofnun, also known as the Icelandic Parliament or Althing, is the unicameral legislature of Iceland. Established in 930 AD, it is the oldest parliament in the world still in continuous operation. The Althing is located in the capital city of Reykjavik and is composed of 63 members, known as Althingi members, who are elected by proportional representation for a four-year term.

The Althing's primary function is to pass laws, which are then ratified by the President of Iceland. It also has the power to oversee the government, approve the national budget, and conduct oversight of the executive branch. The Althing operates under a parliamentary system, where the Prime Minister and Cabinet are responsible to the Parliament.

The Althing is known for its historic significance and democratic traditions. It meets in the Althingi building, which was constructed in 1881 and has been the seat of the Icelandic Parliament since then. The building is a notable example of Icelandic architecture and is a popular tourist attraction.

The Althing is a symbol of Iceland's democratic heritage and continues to play a crucial role in the country's political and legislative processes. Its unique history and ongoing operation make it a significant institution in the world of politics and governance.