The Executive Chairman of Kaupthing Singer and Friedlander has described being invited as a guest to the Tynwald ceremony on Thursday as 'a great honour for himself and the bank'.

It's the first time a corporate guest from the banking industry has been honoured in such a way.

During his stay Icelandic Sigurdur Einarsson is due to meet government and regulatory representatives, including the Treasury Minister, the Chief Financial Officer and the Chief Executive of the Financial Supervision Commission.

He says he hopes to gain a broader understanding of the Island's financial services industry generally and explore any potential new areas of interest for his group.