Iraqi Prime Minister Explores Financial Cooperation with JPMorgan

Shafaq News/ On Wednesday, Iraqi Prime Minister Mohammad Shia Al-Sudani met with JPMorgan's Senior Country Officer MENA and Head of Global Markets - MENA and Turkey, Khaled Hoballah, on the sidelines of the Davos Economic Forum in Switzerland.

According to a statement by Al-Sudani's office, the two sides held talks about the potential collaboration in financial domains, including opening accounts for Iraqi banks and JPMorgan's participation in the government's initiatives for electronic payment applications.

The Prime Minister emphasized the possibility of JPMorgan's collaboration in government-led initiatives to foster electronic payment applications within Iraqi markets.

The talks also highlighted the coordinated technical efforts between the Central Bank of Iraq and JPMorgan to establish ideas for trading digital currencies tailored to central banks.

Furthermore, the Prime Minister conveyed Iraq's interest in fostering collaboration with JPMorgan through the Iraq Fund for Development to finance private sector projects in Iraq.

Hoballah expressed JPMorgan, the largest U.S. lender, readiness to enhance cooperation with Iraq at the governmental level and within the Iraqi banking sector.

JPMorgan intends to open accounts for three private Iraqi banks.