The Central Bank of Iraq (CBI) has ordered a suspension of financial transfers involving TikTok agents in the country, following a request from Iraq’s Ministry of Communications.
In a formal directive, the CBI instructed all licensed banks and non-banking financial institutions to cease incoming and outgoing transactions related to TikTok agents.
The decision primarily affects financial activities tied to the platform, including “tipping” and gift exchanges, which are commonly facilitated through the app. Virtual gifts, often purchased through online stores for smartphones and electronic devices, will no longer be eligible for monetary conversion in Iraq.
