Iraq seeks JP Morgan's financial muscle
Shafaq News/ Iraqi Prime Minister Mohammed Shia al-Sudani met, on Tuesday, with a delegation from JP Morgan, led by Vice Chairman Daniel Zelikow, on the sidelines of the Conference on Reforming the Iraqi Banking Sector in Baghdad.
According to the PM's office statement, the meeting explored opportunities to deepen cooperation in banking and financial services, including JP Morgan's potential role in funding investment projects across Iraq.
The two sides discussed 'mechanisms for securing financial credits and transfers to ensure they reach their recipients in Europe and the United States,' describing them as a step toward improving services for Iraqi traders and importers.
Al-Sudani stressed the importance of expanding partnerships between Iraqi banks and JP Morgan, emphasizing 'the government's full readiness to provide all forms of support to strengthen this relationship.'
JP Morgan's delegation, in turn, expressed interest in expanding its footprint in Iraq's financial system, confirming plans to increase 'correspondent accounts' for local banks and expressing willingness to finance projects directly or through financial partners.
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