The Prime Minister confirms that Iraq is on the verge of a major reconstruction movement in all sectors

The Prime Minister confirms that Iraq is on the verge of a major reconstruction movement in all sectors

2023-06-08 15:20:58

June 8, 2023

Baghdad / Obelisk Al-Hadath: Prime Minister Muhammad Shia’ al-Sudani received, on Thursday, a delegation from JP Morgan Bank, which included the bank’s 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, the Central Bank of Iraq and the private sector was discussed. 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, were also discussed.

The Prime Minister referred to the role of JPMorgan 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 major reconstruction movement in all sectors.

Al-Sudani 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 among 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, indicating that the government has drawn up a budget for three years, which is It 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.

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