In a decisive move to strengthen its financial system, Kuwait has officially banned all cash transactions for the purchase of gold, precious stones, and other metals. The landmark decision, issued by the Ministry of Commerce and Industry under **Ministerial Resolution No. 182 of 2025**, mandates that all payments must now be made through approved non-cash methods.
This regulation is a direct measure to enhance financial transparency, track monetary flows, and prevent money laundering and illicit financial activities. By requiring transactions to be conducted via traceable banking channels, authorities can more effectively monitor and regulate the high-value trade of precious commodities.
The resolution carries strict penalties for non-compliance. Any business found violating the ban will face **immediate temporary closure** and subsequent legal action. This firm stance reinforces Kuwait’s commitment to aligning with international anti-money laundering (AML) standards and fostering a more secure and regulated economy.
