Kuwait has introduced tougher Kuwait money laundering guidelines for jewellery businesses after remaining on the Financial Action Task Force (FATF) grey list over concerns about anti-money laundering controls.
KUWAIT CITY: Kuwait is tightening its grip on financial crime after remaining on the Financial Action Task Force (FATF) grey list, and this time, jewellery businesses are firmly in the spotlight.
The country’s Ministry of Commerce and Industry has rolled out a fresh set of guidelines asking jewellers to be extra careful when dealing with customers and large transactions. The move comes after the Paris-based FATF decided in June to keep Kuwait on its grey list, just months after adding the country in January over gaps in its anti-money laundering and counter-terrorism financing measures.
Kuwait economic achievements strengthen regional and global leadership
So, what changes now?
Jewellery shops are being told to pay closer attention to suspicious activity instead of simply processing transactions. Authorities want businesses to watch out for customers who cannot clearly explain where their money comes from, provide incomplete or inaccurate information, or delay handing over required documents. The idea is to spot unusual behaviour before it becomes a bigger problem.
The tougher rules are part of Kuwait’s wider effort to convince the FATF that it is serious about strengthening its financial system and improving transparency.
This isn’t the first time Kuwait has taken action. The country introduced anti-money laundering laws back in 2013 and has stepped up enforcement in recent years. In 2025 alone, the Ministry of Commerce and Industry shut down more than 73,700 companies that failed to reveal their actual owners.
UAE Kuwait drug bust seizes 14 million Captagon pills
Jewellery businesses have been one of the biggest areas of concern. Officials said they accounted for the largest number of money laundering and terrorism financing violations uncovered last year. Out of 930 companies targeted during enforcement raids in 2025, 544 were jewellery stores, with most of the remaining businesses linked to the real estate sector.
For Kuwait, getting off the FATF grey list has become a key priority. Stronger oversight of high-risk sectors such as jewellery is expected to improve confidence in the country’s financial system and help bring it closer to meeting international standards.
With Kuwait continuing to position itself as a major business and investment hub in the Gulf, authorities are making it clear that tighter checks and greater accountability are here to stay.
Babar Siddiqui is the Features Editor at TheBrewNews.com, where he covers stories spanning the environment, culture, and technology. A naturally curious storyteller with an adventurous spirit, he is passionate about exploring ideas that shape the world around us. Beyond the newsroom, Babar finds inspiration in nature, embracing its quiet moments as a source of reflection and creativity.
Connect with him to follow his latest work and insights.
