Gold traders must issue transaction invoices
The procedures implemented by the Ministry of Commerce and Industry in Kuwait have reassured efforts to enhance transparency and oversight in the gold and precious metals market. They mandated that traders issue invoices for transactions and limited cash dealings by restricting payments to four approved electronic channels. Additionally, they emphasized the importance of implementing due diligence measures and maintaining client documentation, aimed at combating money laundering and terrorist financing, as well as improving compliance and transparency within the sector.
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