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The presidential team will nominate the key role of prime minister who will lead Iraq until new polls in December.
Shia politician Ibrahim Jaafari is expected to be named prime minister in the coming days.
Iraqi officials said Saddam Hussein and members of his former regime watched the proceedings on television in jail.
"I decided that Saddam and the 11 others will watch it on the television," Iraqi Human Rights minister Bakhtiar Amin told AFP before the session.
"There will be a place in jail for Saddam and the 11 to watch the TV to understand their time is finished, there is a new Iraq and that they are no longer ruling the country; so they can understand that in the new Iraq, people are elected and they are not coming to power by a coup d'etat."