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ID and Cash Limits for Buying Silver in Pakistan

Pakistan has no legal cap on how much cash a buyer may pay for silver. The money-laundering law covers dealers in precious metals and stones, but the FBR's regulations describe covered dealers by articles of gold, platinum and diamonds, so whether a silver-only dealer must check your CNIC for cash of PKR 2 million or more isn't stated. A jeweller or bullion dealer that is covered must identify you at that level and report the deal. Since July 2025, a seller that takes over PKR 200,000 in cash on one invoice loses half the related tax deduction, so many shops push card or bank payment.

Facts checked 31 October 2026 · Not financial, legal or tax advice

At a glance

SituationRuleNotes
Buying jewellery, coins or barsID check (CDD) for cash of PKR 2 million or more at a covered dealer.Covered dealers are defined by gold, platinum and diamond articles; silver isn't mentioned. Linked payments for the same items count together.
Paying cashNo legal cap for the buyer.Sellers taking over PKR 200,000 in cash on one invoice lose 50% of the related expense deduction (Finance Act 2025).
SellingSame PKR 2m cash trigger at a covered dealer: the rules cover dealers that buy as well as sell.Bearer cheques count as cash.
ReportedCurrency transaction report to the FMU for cash of PKR 2 million or more; suspicious transactions of any amount.In October 2026 the AML committee approved raising the CTR threshold to PKR 3 million. The start date wasn't published.

The rules in detail

  • The Anti-Money Laundering Act 2010 covers "dealers in precious metals and precious stones, including jewellers and gem dealers". The FBR, which supervises them, defines a jeweller as a bullion dealer or a person selling jewellery, precious stones and metals, covering articles made wholly or mainly of gold, platinum and diamonds, when it has a cash transaction with a customer of PKR 2 million or more. Silver isn't named, so the rules' reach over silver-only dealers is unclear.
  • ID: where the rules apply, residents are identified with a CNIC. Non-residents use a NICOP, POC, ARC or passport, and dealers may check details through NADRA. The dealer must also identify the beneficial owner. High-risk customers and politically exposed persons can be asked about their source of funds.
  • Cash includes bearer negotiable instruments as well as notes. Splitting a purchase into smaller cash payments for the same items doesn't avoid the PKR 2m test.
  • Reports go to the FMU through goAML: currency transaction reports for cash of PKR 2m or more, and suspicious transaction reports of any amount. Records are kept for at least five years.
  • SRO 1439(I)/2026 (August 2026) renamed "jewellers" in the regulations as dealers in precious metals and stones (DPMS). As reported, it names bullion dealers and stone-set items, still lists gold, platinum and diamonds, and keeps the PKR 2m cash test.
  • Sales tax: jewellers must be linked to the FBR point-of-sale system, and the FBR has sealed shops that weren't. Ask for the FBR-integrated invoice.

When you sell

  • For a cash deal of PKR 2 million or more with a covered dealer, expect to show your CNIC and answer source-of-funds questions.
  • The dealer can pay you in cash or by bank transfer; no legal limit on paying a seller in cash was found.

Gold and travel

  • Gold is named in the dealer rules, so the PKR 2m CNIC check and cash reports clearly apply to gold.
  • Carrying silver, gold or cash across the border falls under customs and State Bank rules. See the travel-allowance page.
These points come from the FBR's 2021 guidance for dealers and from news reports rather than gazette text: the August 2026 SRO (reported by PKRevenue) and the October 2026 decision to raise the cash-reporting threshold to PKR 3 million (reported by Dawn; the report names banks and financial institutions). Neither source mentions silver. Until the new threshold is gazetted, dealers should keep reporting at PKR 2 million. The old sales-tax rule requiring a buyer's CNIC for purchases over PKR 100,000 was removed in the 2022 budget.
ID and cash limits for silver in other countries: United States · Canada · Mexico · Brazil · United Kingdom · Ireland · Germany · France · Italy · Netherlands · Switzerland · Turkey · UAE · Saudi Arabia · Kuwait · Qatar · Bahrain · Oman · Egypt · South Africa · India · Bangladesh · Nepal · Sri Lanka · China · Hong Kong · Japan · South Korea · Singapore · Malaysia · Thailand · Vietnam · Indonesia · Philippines · Australia · New Zealand · all countries
See also: Silver price in Pakistan · Tax on selling silver in Pakistan · Silver travel allowance · Gold rules in Pakistan

Silver ID and Cash Limits in Pakistan: FAQ

Do I need my CNIC to buy silver in Pakistan?

No rule clearly requires it. Dealers covered by the AML rules must identify you for cash of PKR 2 million or more, but the FBR definition names gold, platinum and diamonds, not silver. Many shops ask for a CNIC anyway.

Is there a limit on paying cash for silver in Pakistan?

There is no legal cap for the buyer. Since July 2025, a seller that takes more than PKR 200,000 in cash on one invoice loses half the related business expense deduction, so shops may prefer card or bank payment.

Are silver dealers covered by Pakistan's money-laundering rules?

Unclear. The law covers dealers in precious metals and stones, but the FBR's regulations describe covered dealers by gold, platinum and diamond articles and don't mention silver.

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.