Kuwait Bans Cash and Tightens Anti-Money-Laundering Rules for Gold Dealers and Real Estate Brokers

The Minister of Commerce and Industry, Osama Khaled Abdullah Boodai, issued Ministerial Decisions Nos. 172 and 173 of 2026 on 31 August 2026. Both appear in Kuwait Al-Youm Issue 1807 (pages A12 to A22) dated 6 September 2026 and took effect on publication. Decision 172 sets the anti-money-laundering controls for businesses trading in gold, precious stones and precious metals and repeals Ministerial Decision No. 431 of 2016; Decision 173 does the same for real estate brokers and intermediaries and repeals Decision No. 430 of 2016.

Both implement Law No. 106 of 2013. Each business must adopt risk-based policies approved by senior management, appoint a compliance officer and notify the Ministry's anti-money-laundering department of that appointment, verify every customer and beneficial owner before any transaction, apply enhanced checks to politically exposed persons and other high-risk customers, keep records for five years and train staff. Suspicious transactions must be reported to the Kuwait Financial Intelligence Unit within two business days, whatever their value, without telling the customer.

Article 12 of Decision 172 bans cash in the sale or purchase of gold and precious metals; payment must pass through non-cash instruments approved by the Central Bank of Kuwait. Article 13 of Decision 173 bars brokers from accepting, receiving or handing over any cash connected to a property deal, including deposits and advance payments. Gold dealers must attach transaction documents for deals above KD 3,000 and keep an electronic register of beneficial owners; brokers must use the Ministry's electronic real estate broker system. Breaches attract the penalties under Law 106/2013, including the penalty matrix in Ministerial Decision No. 25 of 2026.

WEFAQ's view: the rules answer a specific commitment. The Financial Action Task Force placed Kuwait under increased monitoring in February 2026, and Kuwait's action plan includes tighter oversight of real estate agents and precious-metals dealers. There is no transition period, so gold traders and property offices should treat the cash ban and the two-day reporting clock as changes to make this week.

Read more: for the full analysis, read our companion blog article: 'Kuwait's New Anti-Money-Laundering Rules for Gold Dealers and Real Estate Brokers: A Compliance Roadmap'.