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U.S. investment bank JPMorgan Chase is in talks to provide financial services to the Gaza Board of Peace, with discussions centered on core banking support, including handling payments to and from the body as it prepares to oversee billions of dollars in pledged funding.
The Board of Peace was introduced following a U.S.-brokered ceasefire that ended two years of war between Israel and Hamas.
The initiative, backed by a United Nations Security Council resolution, is intended to establish a governance and financing framework for Gaza’s recovery.
An administration official familiar with the discussions said there was "nothing to announce at this time," while confirming the government was "exploring all options that can help us get assistance to Gaza as efficiently and effectively as possible," according to the Financial Times.
Chaired by U.S. President Donald Trump, the Board of Peace includes 26 participating countries.
Member states are expected to finance the institution through direct contributions, with countries pledging at least $1 billion within the first year granted permanent membership instead of the standard three-year term.
White House Press Secretary Karoline Leavitt previously said Trump would announce at the meeting that member states had pledged more than $5 billion toward humanitarian relief and reconstruction efforts in Gaza.
Estimates for rebuilding the territory vary, with the World Bank Group reporting earlier that reconstruction would require $53.2 billion after Israeli military operations caused $49 billion in damages.
To manage incoming aid, Nickolay Mladenov, a U.N. envoy appointed high representative for Gaza, said a World Bank trust fund was being established to oversee assistance, initially focusing on humanitarian support, emergency recovery, and security needs.
JPMorgan’s discussions with the Board of Peace come despite tensions between the bank and Trump.
The president filed a lawsuit last month accusing the lender and its chief executive, Jamie Dimon, of closing his bank accounts for political reasons.
At the same time, Dimon has pursued policies aligned with U.S. strategic priorities, including a commitment to facilitate and finance $1.5 trillion in sectors considered critical to national security and infrastructure.
JPMorgan, the largest U.S. bank with more than $4 trillion in assets, would help manage financial flows tied to Gaza’s humanitarian aid and long-term reconstruction if the talks are finalized.
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