KUWAIT CITY, Feb 2: The Central Bank of Kuwait has lowered the maximum daily cash amount that exchange companies may accept from customers to KD 1,000, down from KD 3,000, as part of strengthened regulatory measures. The new ceiling applies to all customer dealings, including foreign remittances as well as the buying and selling of currencies.

Sources stated that the move reflects the Central Bank’s efforts to curb risks linked to cash transactions and to reinforce precautionary supervision aimed at combating money laundering and terrorist financing. Under the directive, exchange companies are prohibited from accepting cash payments exceeding KD 1,000 — or its equivalent in foreign currency — per customer in a single day.

The sources clarified that the decision does not impose a cap on the total value of transfers or currency transactions. However, any amount exceeding the KD 1,000 cash limit must be settled through bank account deductions or other approved non-cash payment methods permitted by the Central Bank.