Kuwait Pushes Digital Payments: New Rule Bans Cash Over 10 KWD in Service Businesses

Hey everyone, big news from Kuwait! The Minister of Commerce and Industry, Osama Boudi, just announced a new rule that's going to change how some businesses handle money. From now on, you can't use cash for transactions over 10 Kuwaiti Dinars in a bunch of commercial and service places. This is a super important step to make financial dealings more transparent and really push everyone towards using electronic payments. This new rule, officially Ministerial Resolution No. 32 of 2026, covers a wide range of businesses. Think health institutes, salons for men, women, and kids, sports clubs, and even pest control companies, plus those involved in importing, exporting, and storing public health pesticides. The Ministry of Commerce told the Kuwait News Agency (KUNA) that if your payment is more than 10 KWD, you'll need to use bank transfers or other electronic payment methods approved by the Central Bank of Kuwait. It's crucial for businesses to follow these guidelines, because if they don't, there could be penalties. This could even mean closing down the business or getting referred to investigators – pretty serious stuff! The decision also makes it clear that any old rules that go against this new one are now canceled. And all the relevant authorities need to put this into action right away, as soon as it's published in the Official Gazette. This whole initiative is part of the government's bigger plan to keep a closer eye on cash transactions and encourage a shift to a cashless economy. They're especially focusing on businesses that might have higher financial risks or are involved in sensitive health and commercial services. Ultimately, this shows how keen Kuwait is to embrace modern digital tools for financial transactions. It's all about boosting transparency, cutting down on the risks that come with cash, and getting the economy fully ready for the digital payment era!