ID and Cash Limits for Buying Gold in Kuwait
Since November 2025 gold, jewellery and precious metals shops in Kuwait may not take or pay cash at all: every deal must go through a non-cash method approved by the Central Bank of Kuwait (card, bank transfer, payment link, wallet). Commerce Ministry Decision 172 of 2026 (September 2026) adds customer due diligence for every customer and reportedly enhanced checks above KWD 3,000.
Facts checked 31 October 2026 · Not financial, legal or tax advice
At a glance
| Situation | Rule | Notes |
|---|---|---|
| Buying | Shop must identify you and the beneficial owner (Decision 172 of 2026). | Enhanced checks for sales above KWD 3,000, politically exposed people and high-risk nationalities, per press reports. |
| Paying cash | Not allowed at any amount. | Card, bank transfer, payment link or digital wallet approved by the Central Bank (Resolution 182 of 2025). |
| Selling | Shop pays you by non-cash method only. | Shops buying used gold now pay through payment links or transfers. |
| Reported | Suspicious transactions, to the Kuwait Financial Intelligence Unit. | No cash report applies, since cash is banned. |
The rules in detail
- Ministerial Resolution No. 182 of 2025 (announced 2 November 2025, effective immediately) bans cash in any transaction by companies trading gold, precious stones and precious metals. Payments must use methods approved by the Central Bank of Kuwait. Shops that break it face closure and referral to prosecutors.
- Decision No. 172 of 2026, announced by Commerce Minister Osama Boodai on 1 September 2026, replaces Decision 431 of 2016. It takes effect on publication in the Official Gazette and requires gold traders to verify customer identity, the beneficial owner and the purpose of the deal, monitor transactions, keep records and report suspicious activity. Decision 173 sets the same rules for real estate brokers.
- A shop must refuse the sale if it can't complete the identity checks or suspects money laundering.
- Enterprise reports that the decisions require enhanced due diligence for gold and precious metal sales above KWD 3,000 (about US$9,700) and keep records for 5 years after a deal.
- Kuwait was put on the FATF grey list in February 2026, citing weak supervision of gold dealers; the ministry has been fining and closing shops that break the rules.
When you sell
- The cash ban works both ways: a shop buying your old gold must pay you by an approved non-cash method.
- Expect to show your Civil ID or passport, since every customer is now subject to due diligence.
- Visitors without a Kuwaiti bank account have reported trouble getting paid.
Silver and travel
- The rules cover precious metals, so silver is treated the same.
- Travellers must declare cash over KWD 3,000 to customs; gold must be declared whatever its value.
Gold ID and Cash Limits in Kuwait: FAQ
Can I pay cash for gold in Kuwait?
No. Since November 2025 gold, jewellery and precious metals shops must take payment by a non-cash method approved by the Central Bank of Kuwait, such as a card, bank transfer or payment link.
Can I get cash when I sell gold in Kuwait?
No. The ban covers every transaction in the trade, so shops pay for used gold by payment link or transfer.
What changed in September 2026?
Decision 172 of 2026 requires gold traders to identify every customer and beneficial owner, monitor deals and report suspicious ones, and reportedly applies enhanced checks to sales above KWD 3,000.
Sources (6)
- Al-Jarida: Commerce Minister issues Decisions 172 and 173
- Enterprise: Kuwait bans cash payments for gold and real estate
- Siasat: Kuwait Resolution 182 of 2025 bans cash for gold
- Kuwait Times: market adjusts to cash ban
- Gulf News: Kuwait tightens AML rules for gold sector
- Gulf News: Kuwait customs rules for cash and gold
General information for individuals buying or selling gold, checked October 2026. Rules change and dealers may ask for more than the legal minimum; check with the dealer or the regulator. Not legal advice.