The Ministry of Commerce and Industry of Kuwait has issued Ministerial Resolution No. 182 of 2025, prohibiting cash transactions for companies operating in specific sectors, including gold, precious stones, and precious metals.

According to Article 1 of the resolution, all institutions and companies engaged in these fields must refrain from using cash when concluding contracts or carrying out transactions. Payments must instead be made exclusively through non-cash methods approved by the Central Bank of Kuwait, in full compliance with its regulations, reports Al-Rai Daily.

The ministry warned that any establishment found violating the rule will face immediate closure and referral to the competent investigative authorities for necessary legal action. These penalties are in addition to any other sanctions stipulated under relevant laws.

The move, the ministry said, aims to enhance transparency, combat money laundering, and align commercial practices with the country’s financial regulatory framework.

#Agencies