Al-Sudani welcomes the opening of branches of a global bank in Iraq

Al-Sudani welcomes the opening of branches of a global bank in Iraq

2023-06-08 06:18

Al-Sudani welcomes the opening of branches of a global bank in IraqShafaq News/ The Prime Minister, Muhammad Shia’ al-Sudani confirmed, on Thursday, Iraq’s welcome to open branches of “JP, Morgan” bank, calling on the International Bank to continue its support for the Central Bank of Iraq and the Agricultural Bank.

Al-Sudani’s media office stated, in a statement received by Shafaq News agency, that the latter received a delegation from the “JP Morgan” bank in Baghdad, which included Deputy Director Daniel Zeliko, and the director of the bank’s group for the public sector in the Middle East, Ghali Laraki. During the meeting, support for the banking sector was discussed. The Central Bank of Iraq and the private sector.

The meeting touched on international trade, risk management and expansion of non-oil revenues, which is one of the most important priorities of the government, which it is working on as part of its financial and administrative reform plans.

The Prime Minister referred to the role of the “JP Morgan” Bank in establishing the Trade Bank of Iraq “TBI”, which is today the commercial banking window of Iraq to the world, stressing that Iraq is on the verge of a large reconstruction movement in all sectors.

He announced his government’s welcome to open branches of the bank in Iraq, and its full readiness to provide support to international banks in Iraq. Because it represents the basis of the banking system that provides guarantees to investors, foremost of which is the “JP Morgan” bank, calling for the continuation of support provided to the Central Bank of Iraq and the development of the Industrial Bank to be qualified for development and investment, as happened previously with the Trade Bank of Iraq.

Al-Sudani stressed that the government is continuing to reform the banking system in Iraq, whether it is related to the public or private sector, correcting the movement of funds and supporting global trade, as well as supporting the private sector and stopping money laundering operations by complying with and improving international standards.

He pointed out that the government has set a budget for three years, which is happening for the first time, and that this budget will support the private sector through the Iraqi Fund for Development, or through agricultural and industrial projects in it.