Iraqi politicians have nominated businessman Ali Al Zaidi as a compromise candidate for prime minister, aiming to end months of political wrangling.
The largest bloc in Parliament, the Co-ordination Framework, finally settled on Mr Al Zaidi after missing a constitutional deadline amid a feud between political rivals.
CF leaders confirmed Mr Al Zaidi’s nomination late on Monday after marathon talks, describing him as a consensus figure.
A rift between caretaker Prime Minister Mohammed Shia Al Sudani and former prime minister Nouri Al Maliki divided the leading Shiite bloc after a national vote in November.
The move follows intense US pressure, including measures to suspend US dollar shipments to the country originating from oil sales, as well as security co-operation.
The CF praised Mr Al Sudani and Mr Al Maliki for withdrawing their nominations.
"This step underscores their commitment to the supreme national interests [and] facilitates overcoming the political deadlock," it said in a statement.
The move allowed the CF to "select a candidate who meets the required qualifications for the position of prime minister and is suited to the demands and challenges of this stage", the CF added.
"After reviewing the candidates, Mr Ali Al Zaidi was chosen as the nominee of the Co-ordination Framework bloc, the largest bloc in the Council of Representatives, to assume the position of Prime Minister and form the next government," it said.
Later, Iraqi President Nizar Amedi charged Mr Al Zaidi with forming a cabinet. He now has 30 days to form his government under Article 76 of Iraq’s 2005 constitution. The nominee needs parliamentary approval with an absolute majority.
Mr Al Zaidi holds a bachelor's degree in law, and a bachelor's and master's in finance and banking. He is also the chairman of the National Holding Company, which owns businesses in different fields, and leads the boards of Al Shaab University and Ishtar Medical Institute.
He was chairman of the privately owned Islamic South Bank, one of handful of Iraqi banks under US sanctions, which are not allowed to deal in dollars due to accusations of smuggling the currency to Iran.
After his nomination, Mr Al Zaidi promised to focus on making Iraq “a balanced country, regionally and internationally".
“This appointment comes at a sensitive time that requires concerted efforts from all political and social forces,” he said in a statement.
