Report says a Wall Street lender may facilitate payments for a US-led body overseeing Gaza reconstruction; the development comes amid an ongoing legal battle between Trump and JPMorgan.
JPMorgan Chase is in discussions to provide banking services to the US-led Board of Peace, a body tasked with overseeing the reconstruction of Gaza, the Financial Times reported on Thursday, citing people familiar with the matter.
According to the report, the bank has explored offering services such as facilitating payments to and from the Board of Peace, which is expected to play a central role in managing funds and financial flows linked to Gaza’s rebuilding efforts.
The development comes against the backdrop of strained relations between US President Donald Trump and the nation’s largest lender. Last month, Trump filed a $5 billion lawsuit against JPMorgan and its CEO Jamie Dimon, alleging that the bank had closed several accounts belonging to him and his businesses on political grounds. JPMorgan has not publicly commented in detail on the lawsuit.
Trump is scheduled to preside over the inaugural meeting of the Board of Peace later on Thursday, with delegations from 47 countries and the European Union expected to attend.
The US President first proposed the Board of Peace in September 2025, describing it as a mechanism to supervise Gaza’s temporary governance and coordinate international reconstruction efforts. Trump has since indicated that the body could eventually expand its mandate to address other global conflicts—a proposal that some analysts say may overlap with or challenge the role of the United Nations in post-conflict management.
If confirmed, JPMorgan’s involvement would place one of Wall Street’s most influential financial institutions at the heart of a high-profile geopolitical initiative with significant humanitarian, political and financial implications.
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