The government of Iceland announced Sunday that it is lifting capital controls that have been in place for nearly a decade following the 2008 financial crisis.
The changes take effect Tuesday.
The capital controls, which restricted the flow of money into and out of Iceland, were put in place after the nation's three largest banks collapsed, as a measure to forestall further economic disaster.
The end of the controls eases restrictions on businesses, individuals and pension funds and "represents the completion of Iceland's return to international financial markets," the government said.
Prime Minister Bjarni Benediktsson told Bloomberg in an interview following the press conference that dropping some of restrictions "will make direct foreign investment easier."