Iraq discusses financial cooperation with JP Morgan
A view of the exterior of the J.P. Morgan Chase & Co. corporate headquarters in New York City. Photo: Reuters
Baghdad (IraqiNews.com) – The Iraqi Prime Minister, Mohammed Shia Al-Sudani, discussed financial collaboration with representatives from JP Morgan.
The meeting took place on the sidelines of the two sides’ participation in the World Economic Forum held in Davos, Switzerland.
The meeting addressed opening accounts for Iraqi banks and JP Morgan’s possible participation in the Iraqi government’s efforts to adopt electronic payment applications in Iraqi markets, according to a statement
The two parties reviewed the Central Bank of Iraq’s (CBI) and JP Morgan’s technological efforts to generate concepts for digital currency trading for central banks.
The Iraqi Prime Minister indicated that his government is eager to see JP Morgan and the Iraq Development Fund work together more closely. He also emphasized that Iraq is making progress toward banking and financial reform in a way that would support the growth of this important industry.
JP Morgan’s officials confirmed the bank’s plan to create accounts for three private banks in Iraq and stated the bank’s willingness to strengthen collaboration with the CBI, the government, and the banking industry in that country.