Iraq's alliance of Shi'ite political blocs, ​the Coordination ⁠Framework, on Monday named ‌Ali al-Zaidi as its nominee for the post ​of prime minister, said a coalition statement.

Iraq's ​President Nizar Amedi ​invited Zaidi on Monday evening, the nominee of the largest ⁠parliamentary bloc known as the Coordination Framework, an alliance of Iran-aligned factions, to form a government, Shi'ite lawmakers ​told ‌Reuters.

Zaidi, in ⁠his ⁠40s, is an Iraqi multimillionaire with interests spanning ​several sectors, including ‌banking and the supply of ⁠Iraq’s vast government food basket programme that serves millions of people.

Under Iraq's constitution, Zaidi now has 30 days to form a cabinet and present it to parliament for approval.

Under a power-sharing system ‌designed to avoid sectarian conflict, Iraq's ⁠president is a Kurd, ​its prime minister a Shi'ite and its parliament speaker a Sunni.

(Reporting ​by Ahmed ‌Rasheed, Menna Alaa El-Din ⁠and Muhammad ​Al Gebaly; Additional reporting Muayad Hameed;)