Iraqi president names banker Ali al-Zaidi as prime minister-designate

Iraq’s newly-elected President Nizar Amedi has named Ali al-Zaidi as the country’s prime minister-designate and officially tasked him with forming a government.

Zaidi was named earlier on Monday as the main candidate of the Coordination Framework, a coalition of Shia political parties which is Iraq’s largest parliamentary bloc.

“After considering the names of the candidates, Ali al-Zaidi was chosen to be the candidate of the Coordination Framework bloc, as the largest bloc in the House of Representatives, to occupy the position of prime minister and form the next government,” a coalition’s statement read after a meeting in Baghdad.

The selection of Zaidi breaks a months-long deadlock. State of Law Coalition leader Nouri al-Maliki was positioned as the most likely candidate for the premiership following the November elections. However, US President Donald Trump threatened to cut off support for Iraq should he be elected to the office.

However, the Coordination Framework stated that Maliki and outgoing Prime Minister Mohammed Shia al-Sudani had withdrawn their candidacies.

The coalition, in a statement announcing Zaidi’s nomination, thanked Maliki and Sudani for their “historic and responsible positions” in withdrawing their candidacies to help overcome the political impasse. Sudani issued a statement congratulating Zaidi.

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Zaidi, who is chairman of al-Janoob Islamic Bank, emerged in the final stages of discussions as a leading candidate, bolstered by his economic background and connections in the business and investment sectors. He has not previously held political office.

Zaidi promised to focus on making Iraq “a balanced country, regionally and internationally” following his nomination.

“This appointment comes at a sensitive time that requires concerted efforts from all political and social forces,” he said.

Under the constitution, the designated prime minister has 30 days to present a cabinet to parliament, with 167 votes required to secure a vote of confidence.

In the country’s power-sharing system, in place since 2003 following the US-led coalition’s invasion, the presidency goes to the Kurds, the premiership to Shia Arabs, and the post of parliament speaker to the Sunnis.

Back on April 11, the Iraqi legislature elected the main candidate of the Patriotic Union of Kurdistan (PUK) political party, Nizar Amedi, as Iraq’s president.

Who is Ali al-Zaidi?

The 40-year-old Zaidi hails from the southern Iraqi province of Dhi Qar. The region is historically recognized to exert a strong political and tribal influence in Iraq’s modern power structure.

He holds a master’s degree in finance and banking, along with bachelor’s degrees in the same field and in law.

Over the years, he has held a series of high-level executive and administrative positions, chairing the boards of the National Holding Company, al-Shaab University, Ishtar Medical Institute and South Bank, formerly known as Al-Janoub Bank.

He also became a member of the Iraqi Bar Association.

Proponents describe his priorities as institutional reform, sustainable economic growth, youth empowerment and linking education to labor market needs.

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