Defying months of speculation over who would lead Iraq’s next government, the Coordination Framework, the country’s largest Shiite alliance, named billionaire businessman Ali Zaidi as prime minister-designate last week. And while his nomination may have surprised observers—and even some politicians—the real surprise came when former prime minister Nouri al-Maliki stepped aside after previously emerging as the Coordination Framework’s preferred candidate, following the US's opposition to his candidacy.
It is also worth noting that despite his coalition winning the largest share of seats in the most recent elections, Prime Minister Mohammed Shia al-Sudani withdrew from his bid for a second term.
The nomination of a figure outside the leadership of Iraq’s largest parliamentary bloc is not without precedent. Following the 2018 elections, Shiite political forces chose Adel Abdul-Mahdi, who had all but withdrawn from public life and hadn't contested the vote. A similar compromise occurred with the nomination of Mustafa al-Kadhimi after the crisis triggered by the October 2019 protests. Yet both men operated within the parameters of Iraq’s post-2003 political order.
Zaidi, by contrast, did not contest the elections and has no recorded history of political activity. He comes instead from the world of finance and economics, with a biography that states he “possesses a diverse store of legal, financial and executive experience”. His most visible role has been in the “management of economic, educational and medical institutions”.
Young and connected
In his early forties, Zaidi chairs the National Holding Company, which oversees a portfolio of companies across multiple sectors, and has investments in private educational institutions. He also maintains investment partnerships with state bodies, including the ministries of trade and defence.
Such relationships can facilitate access to political actors in an economy that seeks to combine the free market with a legislative and legal structure inherited from socialism. Most economic and investment activity, therefore, is formulated through the partnership of money and politics.
