Commerce Ministry bans cash transactions in gold and precious metals trade
The Ministry of Commerce and Industry has issued Ministerial Resolution No. 182 of 2025, prohibiting cash transactions for companies engaged in specific sectors, including gold, precious stones, and precious metals.
According to Article 1 of the resolution, all institutions and companies operating in these fields must refrain from using cash when concluding contracts or carrying out transactions.
Instead, payments must be made exclusively through non-cash methods approved by the Central Bank of Kuwait, in full adherence to its regulations, reports Al-Rai daily.
The ministry stressed that any establishment found in violation of this rule will face immediate closure and referral to the competent investigative authorities for necessary legal action. These measures come without prejudice to any other penalties stipulated under relevant laws.
The decision underscores the ministry’s commitment to enhancing transparency, combating money laundering, and aligning commercial practices with the country’s financial regulatory framework.
