Two new ministerial decisions put customer verification, beneficial ownership and suspicious-transaction reporting at the centre of compliance for two closely supervised sectors.
Kuwait has introduced new anti-money laundering and counter-terrorism financing requirements for businesses trading in gold, precious stones and precious metals, as well as real estate brokers and intermediaries.
Minister of Commerce and Industry Osama Al-Boodai issued Ministerial Decisions No. 172 and 173 of 2026 on 1 September, with the Ministry of Commerce and Industry saying the measures are intended to strengthen compliance across sectors under its supervision.
Decision 172 applies to the gold, precious-metals and gemstone trade. Businesses are required to establish risk-based internal controls, conduct due diligence on customers and beneficial owners, monitor transactions, report suspicious activity, retain relevant records and provide appropriate training to employees.
Decision 173 applies to real estate brokers and intermediaries. It requires businesses to verify customers and beneficial owners, understand ownership and control structures, monitor relationships and transactions, retain records for at least five years and report suspicious transactions to the Kuwait Financial Intelligence Unit.
The measures place greater responsibility directly on businesses handling transactions in the two sectors. Kuwait’s Ministry of Commerce already identifies gold and precious-metals businesses and real estate brokers among the entities supervised through its Anti-Money Laundering and Terrorist Financing Department. Its compliance procedures include the appointment of compliance officers and supporting internal policies and documentation.
The decisions establish the compliance framework, although their impact will ultimately depend on how consistently the requirements are implemented by businesses and enforced by regulators. For gold traders and real estate brokers, however, the immediate direction is clear: identifying the customer is no longer enough. Businesses must also understand who ultimately benefits from a transaction, monitor its risk and maintain records capable of supporting regulatory scrutiny.
