KUWAIT CITY, Nov 9: Minister of Commerce and Industry Khalifa Al-Ajil has issued Ministerial Resolution No. 182 of 2025, introducing a formal ban on cash transactions for companies operating in specific sectors.

Article One of the resolution, all institutions and companies supervised by the Ministry of Commerce and Industry that engage in the trade of gold, precious stones, precious metals, or any related activities are strictly prohibited from using cash when concluding contracts or carrying out transactions. The resolution mandates that all financial dealings must be executed exclusively through non-cash payment methods approved by the Central Bank of Kuwait, in accordance with its regulations and compliance requirements.

Article Two, which took effect immediately, stipulates that any establishment found in violation of the above provisions will face closure and be referred to the competent investigative authorities for appropriate legal action. This is in addition to any measures or penalties already prescribed under applicable laws.

Article Three nullifies any previous text or provision contained in other decisions that contradict the terms of this resolution.

Article Four assigns responsibility to all relevant officials, each within their respective authority, to enforce the resolution. It further states that the decision is effective from the date of its issuance and must be published in the Official Gazette.