Iceland's finance minister approved a bank sale his father bought into, then quit

Bjarni Benediktsson fjármálaráðherra greinir frá afsögn sinni eftir álit umboðsmanns Alþingis. Í álitinu segir að fjármálaráðherra hafi e…
Image: RÚV
Subject of this story
Bjarni Benediktsson, Former Prime Minister of Iceland (April to December 2024); former Minister of Finance and Economic Affairs
01 · What happened

The Icelandic state sold a 22.5% stake in Íslandsbanki in March 2022. When the investor list was published in April 2022, it showed that Finance Minister Bjarni Benediktsson's father, Benedikt Sveinsson, had bought shares through his company Hafsilfur; Benediktsson said he had no idea beforehand (Grapevine). On 10 October 2023 Iceland's Parliamentary Ombudsman (Umboðsmaður Alþingis) issued an opinion that Benediktsson was not qualified, because of lack of impartiality, to approve the state bank-sales agency's proposal for the sale (RÚV). Benediktsson said he had a clear conscience and that much in the opinion seemed questionable to him, but that he respected the conclusion; he resigned as finance minister the same day (RÚV).

02 · By the numbers · 1 fact

● confirmed by a primary document · ○ reported

Figures

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Iceland's Finance Minister Bjarni Benediktsson resigned on October 10, 2023 after the Parliamentary Ombudsman found him disqualified from handling the 2022 sale of shares in Íslandsbanki, in which a company owned by his father was among the buyers.
Bjarni Benediktssonreview-facts-c: removed unverified company name / April date (March 2022 sale)
1 source
  • mbl.is (Morgunblaðið)Bjarni segir af sér embætti fjármálaráðherra eftir álit umboðsmanns Alþingis um vanhæfi hans í Íslandsbankasölunni.
03 · Sources · 3
RÚVBjarni Benediktsson segir af sér vegna vanhæfis við söluna á Íslandsbanka, í kjölfar álits umboðsmanns Alþingis.
mbl.is (Morgunblaðið)Bjarni segir af sér embætti fjármálaráðherra eftir álit umboðsmanns Alþingis um vanhæfi hans í Íslandsbankasölunni.
Reykjavík GrapevineFinance Minister's father, Benedikt Sveinsson, bought Íslandsbanki shares through his company Hafsilfur during the April 2022 government share sale.
04 · Response
Bjarni Benediktsson

Contacted and made an on-record admission — exact wording not on record.

On-record admission
05 · What happened next · 1
Apr 9, 2024Lost

After resigning as finance minister over the Ombudsman's opinion, Bjarni Benediktsson swapped posts to become foreign minister, and on 9 April 2024 the coalition named him prime minister; he held office until 21 December 2024. Source ↗

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