Central Bank of Iceland receives equal pay certification

Yesterday the Central Bank of Iceland received formal equal pay certification in recognition of its wage structure, which fulfils the requirements of the equal pay certification standard ÍST 85:2012. The formal assessment of the Bank’s equal pay system was concluded in December 2018. The assessment was carried out by BSI Iceland, an accredited representative of the British Standards Institution. Two assessments were carried out in order to determine whether all of the requirements of the ÍST 85:2012 standard were satisfied in the Bank’s equal pay system. The Bank passed both assessments without reservations and has now received formal equal pay certification.

The Central Bank of Iceland’s equal pay system affects all Bank employees. The system combines processes, pay criteria, documentation, procedures, and other factors so as to ensure that case treatment and decision making as regards remuneration do not entail gender-based discrimination. The Central Bank strongly emphasises compliance with legislation on equal rights of women and men, and it harmonises its personnel policy and educational policy with such legislation.

Central Bank Governor Már Guðmundsson expressed his satisfaction at achieving this milestone, noting that the Bank had been working for some time towards ensuring equal status of male and female employees in recent years. The equal pay certification is an important confirmation of this work.

The photo shows Már Guðmundsson, Governor of the Central Bank of Iceland, receive the equal pay certification from Guðjon Kristinsson of BSI-Iceland.

Further information can be obtained from Már Guðmundsson, Governor of the Central Bank of Iceland, at tel: +354 569-9600.


No. 1/2019
11 January 2019