Who is Ali al-Zaidi, Iraq’s surprise pick for prime minister?

BAGHDAD — Iraq’s newly nominated prime minister-designate Ali al-Zaidi is a little-known figure outside business circles, with a portfolio spanning 15 registered companies, a former bank chairmanship and ownership of Dijlah TV — details that have drawn scrutiny since his surprise nomination Monday ended five months of political deadlock.

Zaidi, described by political figures as a “compromise candidate,” had not featured prominently in earlier discussions, where potential nominees are frequently floated and scrutinized in what Iraqi political circles call “burning.”

Company registration data from the Ministry of Trade shows that an individual identified as Ali Falih Kazem owns 15 registered companies with initial capital exceeding 282 billion dinars (about $183.1 million). The companies span construction, real estate, tourism, oil and gas, electricity, food production, glass manufacturing, agriculture, higher education and medical and financial services.

Among the most prominent holdings is Al-Awais Company, which has contracts to supply food to the Iraqi military. The company entered a partnership with the state-run General Company for Foodstuff Trading to provide daily rations to approximately 300,000 personnel and has also participated in supplying items for the national ration program covering millions of residents.

Zaidi previously served as chairman of Al-Janoob Bank, which evolved from a financial transfer company established in 2009 into an Islamic investment and finance bank in 2016, growing its capital from 45 billion dinars (about $29.2 million) to more than 510 billion dinars (about $331.2 million) by end of 2024. He left the chairmanship in 2019.

In February 2024, the Central Bank of Iraq barred eight local commercial banks, including Al-Janoob Bank, from conducting transactions in U.S. dollars as part of measures targeting fraud, money laundering and other illicit uses of foreign currency. According to the central bank’s official website, the restriction on the bank remains in place.

Following his nomination, the bank issued a statement congratulating its former chairman, describing him as “a model to be emulated in responsible management and building trust.”

Zaidi also has ties to Iraqi soccer through the bank, which signed a three-year deal in November 2023 to sponsor Iraq’s national team during Asian Cup and World Cup qualification campaigns, with the first year valued at 3 billion dinars (about $1.95 million) and subsequent years at 3.5 billion dinars each.

He holds a bachelor’s degree in law and a master’s degree in finance and banking. His nomination came after the Coordination Framework missed the 15-day constitutional deadline tied to President Nizar Amedi’s April 12 inauguration — a delay described by legal interpretations as a second constitutional breach, following a 71-day delay in electing the president.