Iraq's Central Bank halts financial transfers for TikTok agents

Iraq's Central Bank halts financial transfers for TikTok agents
2024-12-01T12:07:11+00:00

Shafaq News/ On Sunday, the Central Bank of Iraq (CBI) issued a directive suspending financial transfers for TikTok agents operating in the country.

According to a CBI document, following a request from Iraq's Ministry of Communications, the Central Bank instructed all licensed banks and non-banking financial institutions in Iraq to stop both incoming and outgoing financial transfers to TikTok agents within the country.

This move will limit financial transactions for Iraqi TikTok users, particularly impacting the "tipping" and gift exchange activities that take place within the app.

These virtual gifts, bought and sold in online stores for smartphones and gadgets, will no longer be usable for monetary conversion.

Shafaq Live
Shafaq Live
Radio radio icon