Raza is portrayed by Faran Tahir.
Raza is hired by Obadiah Stane to assassinate Tony Stark. However, after the Ten Rings destroy Stark's escort convoy and capture him, Raza decides that Stark will be of more use to him alive. He forces Tony to build him a Jericho missile, a weapon that had earlier been demonstrated to the US Army, using materials illicitly acquired through Stane. To Raza's surprise, Stark, with the help of Ho Yinsen, uses the materials to build something completely different: a suit of mechanized armour that Stark uses to escape his captors. Raza survives Tony's escape effort but is left with severe scarring on one side of his head.
Later in the film, Obadiah Stane visits Raza's camp in Afghanistan to discuss Iron Man's interference with the Ten Rings' operations in the region. He shows Stane pieces of the Mark I suit that Stark had built while in captivity, found buried in the desert after his escape. Raza offered the remnants of the suit to Stane in exchange that he develop a new line of suits to arm his men. Stane, however, simply takes the Mark I after paralyzing him with a special device. As he leaves, he tells his bodyguards to "finish up". This is then followed by gunfire just off-screen.
Since the shooting takes place off-screen, it is uncertain if Raza was among the terrorists who were killed.