ID and Cash Limits for Buying Silver in Kuwait

Since November 2025 shops trading gold, precious stones and precious metals in Kuwait may not take or pay cash at all, so silver bars, coins and jewellery must be paid for by 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 on precious metal sales.

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 pieces 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, which takes in silver. 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 traders in the sector 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 the sector; 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 silver 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.

Gold and travel

The same cash ban and checks apply to gold.
Travellers must declare cash over KWD 3,000. Gold must be declared whatever its value; the customs reports don't say the same for silver.

The KWD 3,000 enhanced-check threshold comes from one business news report (Enterprise) on Decisions 172 and 173; Kuwaiti press summaries of the decisions don't mention it, and the Gazette text wasn't available.

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Silver ID and Cash Limits in Kuwait: FAQ

Can I pay cash for silver in Kuwait?

No. Since November 2025 shops trading gold, precious stones and precious metals 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 silver in Kuwait?

No. The ban covers every transaction in the trade, so shops pay for used pieces by payment link or transfer.

Do I need ID to buy silver in Kuwait?

Yes. Decision 172 of 2026 requires shops to identify every customer and beneficial owner, and reportedly applies enhanced checks to sales above KWD 3,000.

Sources (6)

General information for individuals buying or selling silver, 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.