What’s new?
Kuwait Minister of Commerce and Industry issued on 30 October 2025 Ministerial Decision No. 182 of 2025 (the “Decision”), published in the Official Gazette on 9 November 2025 and effective from its date of issuance (30 October 2025), prohibiting all cash transactions when concluding contracts or executing transactions in gold, jewellery, precious stones and precious metals (and related activities). Prior to this Decision, the concerned entities were allowed to execute contracts and transactions in cash up to KD 3,000 (or its equivalent in foreign currency) for one transaction or multiple related transactions in a same day. Amounts exceeding KD 3,000 had to be settled by cheque, point of sale systems and other non-cash transactions as permitted by the Central Bank of Kuwait (“CBK”).
This recent Decision forms part of the Ministry of Commerce and Industry (“MOCI”) broader efforts to enhance financial transparency, reinforce anti-money-laundering safeguards, and align Kuwait’s AML regulations with MENAFATF and FATF best practices.
The Decision also expressly repeals any provision that conflicts with its terms, wherever found in other laws, regulations, or ministerial decisions, and compels all relevant authorities to implement it.
Who is affected?
Institutions and companies under the supervision of the MOCI, operating in the fields of gold, precious stones, precious metals, and related activities, are within the scope of the new Decision.
How does this impact your business?
Effective as of 30 October 2025, cash payments are prohibited. Institutions and companies under the supervision of MOCI, operating in the fields of gold, precious stones, precious metals, and related activities must disable cash sales across all points of sale and e-commerce checkout – all payments must now be made via non-cash instruments approved by the CBK, e.g., debit/credit cards, bank transfers, certified/banker’s cheques, and other CBK-approved e-payment methods.
Refunds and exchanges shall likewise be effected exclusively via non-cash methods – preferably through the original payment instrument – to preserve auditability and ensure operational consistency.
Earlier this year, on 22 June 2025, the MOCI issued its “Supervisory Guidance: AML/CFT Guideline for Dealers in Precious Metals and Stones (2025)”, a sector-specific handbook for dealers in precious metals and stones. The guideline explains Kuwait’s risk-based approach, sets expectations for business risk assessments, customer due diligence and enhanced due diligence (including beneficial ownership identification and handling of politically exposed persons), ongoing transaction monitoring and suspicious transaction report filing, targeted financial sanctions, record-keeping, and training and governance obligations. Although cash transactions exceeding KD 3,000 have been prohibited in Kuwait since 2016, the regulatory framework is now further strengthened in 2025, through the ban of all cash transactions in the precious metals and stones sector regardless of value.
What are the penalties for non-compliance?
The Decision establishes specific enforcement measures against subject entities that violate its provisions. These include: (i) the immediate closure of the shop or entity found to be in breach; and (ii) referral to the competent investigative authorities for further legal action.
How Can We Help?
At Meysan, we stand ready to help you navigate these changes and convert them into operational advantage. We will tailor your internal AML policies, procedures, and controls to align with the new Decision and more broadly Kuwait’s AML/CFT framework for full regulatory readiness and compliance.
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