No More Buying Gold or Jewelry in Cash in Kuwait
Kuwait City — Nov 2, 2025. The Ministry of Commerce & Industry has issued Ministerial Resolution No. 182 of 2025 banning cash transactions in the trade of gold, jewelry, precious stones, and precious metals. All payments must be made through non-cash methods approved by the Central Bank of Kuwait.
What changed?
- No cash allowed for sales, contracts, or business dealings in gold and precious metals.
- Only non-cash methods (KNET, bank transfer, cards, other CBoK-approved rails).
- Strict enforcement: violators face immediate closure and referral to investigative authorities, in addition to other legal penalties.
Impact on buyers & retailers
- Pay via KNET, card, or bank transfer—no cash accepted for gold or jewelry purchases.
- Expect invoices/receipts to reference the chosen non-cash method for compliance.
- Update POS to support approved digital methods; keep reconciliation logs.
- Train staff on the no-cash policy and AML procedures.
- Document transactions to meet Central Bank and Ministry requirements.
Official documents (Arabic)
Summary
Kuwait’s cash ban for precious metals trade is a major step toward a safer, more transparent marketplace. For customers, it’s simple: pay digitally. For retailers, it’s essential to comply, document, and train.
Buying 22K Coins or Investment Bars?
Mubaraka International Jewellery — Fahaheel accepts CBoK-approved non-cash methods (KNET, bank transfer, cards) in full compliance with the new regulation.
- 📍 Fahaheel, Kuwait
- 🌐 mijeweller.com
- 📞 Call / WhatsApp: +965 97277910
Compliance note: Our shop has already implemented this rule. We do not accept cash for gold, jewelry, or precious metals purchases—only Central Bank-approved non-cash methods.
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