By John Lee.
The opening of foreign bank branches in Iraq will help fund investment projects, ease banking operations for foreign companies, expand financing channels, and transfer modern banking expertise, according to Finance Minister Faleh Sari.
Sari made the remarks following a meeting between a government delegation led by Prime Minister Ali al-Zaidi and representatives of JP Morgan, at which the bank agreed to open a branch of in Iraq.
He said the entry of global banks into Iraq would support the implementation of strategic projects and help integrate the Iraqi financial sector with the international financial system.
(Source: Ministry of Finance)
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