Iceland agrees to reimburse Dutch clients of frozen online bank
Iceland has reached an agreement with the Netherlands to reimburse Dutch clients of the frozen online savings bank Icesave, according to a joint statement released on Saturday.
By Agencies |
REYKJAVIK: Iceland has reached an agreement with the Netherlands to reimburse Dutch clients of the frozen online savings bank Icesave, according to a joint statement released on Saturday.
"The agreement states that the Icelandic government will compensate each Dutch depositor up to a maximum of 20,887 euros ($28,240)," the statement said.
"The Dutch government will provide a loan to Iceland to enable this restitution and the Dutch Central Bank is to settle the depositors' claims," it said.
The Netherlands had announced earlier this week that it would guarantee savings up to 100,000 euros by Dutch clients of Icesave.
Icesave is an online British arm of Iceland's second biggest bank, Landsbanki, which was taken over by Icelandic authorities on Tuesday.
The bank has announced that customers can no longer withdraw or deposit money, prompting the British government to threaten legal action to recover money lost.
Icesave is reported to have more than 120,000 Dutch clients with some 1.6 billion in savings.
"The agreement states that the Icelandic government will compensate each Dutch depositor up to a maximum of 20,887 euros ($28,240)," the statement said.
"The Dutch government will provide a loan to Iceland to enable this restitution and the Dutch Central Bank is to settle the depositors' claims," it said.
The Netherlands had announced earlier this week that it would guarantee savings up to 100,000 euros by Dutch clients of Icesave.
Icesave is an online British arm of Iceland's second biggest bank, Landsbanki, which was taken over by Icelandic authorities on Tuesday.
The bank has announced that customers can no longer withdraw or deposit money, prompting the British government to threaten legal action to recover money lost.
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Icesave is reported to have more than 120,000 Dutch clients with some 1.6 billion in savings.
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