Al-Alaq discusses with JPMorgan chief supporting foreign trade finance

INA-  Baghdad

Central Bank of Iraq Governor Ali Mohsen Al-Alaq and JPMorgan Vice President Daniel Zeliko discussed on Friday supporting foreign trade financing.

CBI said in a statement received by the Iraqi News Agency (INA), that "the Governor of the Central Bank of Iraq, Ali Mohsen Al-Alaq, met with the Vice President of JPMorgan Bank Daniel Zeliko in Baghdad, while the two parties discussed ways of cooperation between JPMorgan Bank and the Central Bank, and the readiness of the US bank to support a number of Iraqi banks in foreign trade financing operations in US dollars."

Zeliko praised "the recent measures taken by the Central Bank of Iraq in the field of combating money laundering and terrorist financing and the adoption of international standards in remittances."

Al-Alaq called on Zeliko to "open a representative office in Iraq, promising it to provide the necessary support to facilitate this step because it represents positive repercussions on the Iraqi economy in general and the banking sector in particular, while the meeting touched on joint cooperation in the fields of investment management, technical support and training in various fields."

He pointed out that "JPMorgan Bank is the largest US bank in terms of financial assets, with assets of about 4 trillion US dollars."