03/11/2025
Cash Transactions Banned in the Gold Trade in Kuwait!
The Ministry of Commerce and Industry of Kuwait has issued an important directive, officially titled Ministerial Resolution No. 182 of 2025. This resolution prohibits companies operating in certain sectors from conducting cash transactions.
The main purpose of this new rule is to enhance transparency, combat money laundering, and maintain strong financial oversight standards.
➡️ According to Article 1, all establishments and companies engaged in the trade of gold, precious stones, valuable metals, and related businesses under the supervision of the Ministry are strictly prohibited from making or finalizing any agreements or transactions in cash.
➡️ Instead of cash, all payments must be made through non-cash methods—such as bank transfers, checks, or other digital means—approved and regulated by the Central Bank of Kuwait according to its guidelines.
▪️ Any establishment that violates this rule will be immediately shut down and referred to the relevant investigative authorities for necessary legal action.
▪️ In addition to these penalties, any other fines or sanctions prescribed under relevant laws and regulations will also apply.
Through this directive, the Ministry of Commerce and Industry has reaffirmed its strong commitment to maintaining financial transparency and protecting the country from illegal financial activities.
Source: Arab Times
© Saiful Islam
