Magnus Arni Skulason who has a seat in the bank council of the Central bank of Iceland on the behalf of the progressive party, contacted a large shareholder of Ossur orthopaedic manufacturer and an employee of the medical company Actavis in order to tell them about a preferable transactor (broker) for foreign currencies. In queston is the English broker company Snyder but the administration of the company are friends with Magnus Arni.

Offered communication and currency purchases

What Snyder offered the companies was communicating and the service to buy currencies abroad into an account and deliver króna here in Iceland which is traditional trades made abroad. Income foundation of such trade connections are the currency restrictions, but it is amongst other the job of the Central bank of Iclend to create a plan about lifting the currency restrictions in steps.
The representatives of the largest export companes in Iceland, amongst other Ossur and Actavis were called in to a special meetng in the central bank this summer. There they discussed companies that have an exemption from the currency restrictions but those are companies that have over 80% of their income in foreign currencies. The companies were requested to discontinue all currency trades made abroad, even though they are not illegal, since they are against the goals of the rules.

Magnus Arni Skulason did not want to comment about this matter yesterday.

In short
-Magnus Arni was elected the mainman in the bank council of the central bank of Iceland by the parliament on August 11th this year.
-The meeting betweenhim and the employees of Snyder with the emoloyees of Actavis was just over two weeks ago.
-Nothing points to that this had been illegal doing by Magnus Arni.

News Article by Thorbjorn Thordarson
Translated by Anya
Original Article in Icelandic

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