JPMorgan in Talks to Support U.S.-Led Board of Peace for Gaza as Tensions With Trump Persist

BY COMFORT OGBONNA

JPMorgan Chase is reportedly in discussions to provide banking services to the U.S.-led Board of Peace, an institution created to oversee the rebuilding and temporary governance of Gaza, according to a report by the Financial Times citing people familiar with the matter.

The bank has explored offering financial services that would include facilitating payments to and from the Board of Peace, ensuring the smooth transfer of funds related to reconstruction efforts and administrative operations. Such services would be critical to managing international contributions and coordinating financial flows tied to rebuilding projects in the war-affected territory.

The development comes at a sensitive moment in relations between the White House and the largest U.S. lender. Reuters said it could not independently verify the report. Neither the White House nor JPMorgan immediately responded to requests for comment.

The reported talks unfold against the backdrop of escalating tensions between U.S. President Donald Trump and JPMorgan, as well as its chief executive Jamie Dimon. Last month, Trump filed a $5 billion lawsuit accusing the bank and Dimon of closing several of his personal and business accounts on political grounds. The case has drawn significant attention, given the high-profile nature of both parties and the broader implications for the relationship between major financial institutions and political figures.

Trump is scheduled to preside over the inaugural meeting of the Board of Peace later Thursday. Delegations from 47 countries, along with representatives from the European Union, are expected to attend, signaling substantial international interest in the initiative. The gathering marks a formal launch of the body’s operational phase and is intended to coordinate diplomatic and financial backing for Gaza’s reconstruction.

The president first proposed the Board of Peace in September 2025 as a mechanism to supervise Gaza’s temporary governance following conflict in the region. He later suggested that the institution’s mandate could expand beyond Gaza to address other global conflicts, a move that some international policy experts argue could challenge or overlap with the traditional role of the United Nations in conflict resolution and peacekeeping.

If JPMorgan ultimately agrees to provide services to the Board of Peace, the arrangement would place the bank at the center of a high-stakes geopolitical initiative, even as it navigates legal and political friction with the administration overseeing the project.