JP Morgan prepared to fund investment initiatives in Iraq
The remarks took place during a meeting attended by the Iraqi Prime Minister, Mohammed Shia Al-Sudani, and the Chair of the Governing Board of JP Morgan Development Finance Institution (DFI), Daniel Zelikow, on the sidelines of the Conference on Reforming the Iraqi Banking Sector held in the Iraqi capital, Baghdad.
According to a statement released by the Prime Minister's Office (PMO), the meeting addressed strategies to strengthen banking and financial collaboration, as well as the bank's involvement in funding different investment initiatives.
To improve services provided to Iraqi importers and dealers, the meeting also looked at ways to secure bank transfers and letters of credit and guarantee their delivery to the rightful recipients in the United States and Europe.
Al-Sudani emphasized the value of growing collaborations between Iraqi banks and JP Morgan, indicating that the government is willing to offer any kind of assistance to strengthen this partnership.
By opening more correspondent accounts for Iraqi banks, the JPMorgan delegation indicated that it would be eager to strengthen its relationship with Iraq.
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