Cash cap and new anti-money-laundering checks for gold trade and auditors

TDT | Manama

Email: mail@newsofbahrain.com

Gold and jewellery dealers and external auditors in Bahrain are now covered by a new Ministry of Industry and Commerce decision that lays down updated steps to stop money laundering, terror financing, proliferation financing and the illegal cross-border movement of funds.

The decision was published in the latest Official Gazette and takes effect the day after publication.

Decision No. 105 of 2025 applies to anyone licensed to sell or trade gold and jewellery, and to auditors when they carry out the specified activities defined under the anti-money-laundering law.

Risk

Its reach also extends to relevant branches and subsidiaries inside and outside Bahrain, according to the level of risk tied to each business.

For gold and jewellery businesses, the rules bar cash payments for any single deal worth BD3,000 or above, or the equivalent in other currencies.

A copy of the customer’s ID must be taken for any cash purchase over BD2,000.

Firms must keep a record of transactions for at least five years, and issue a receipt showing the client’s details, the sale value, a description of the items and the date of sale.

Auditors performing the specified activities must apply due-diligence checks on clients and beneficial owners, monitor business relationships and one-off transactions, and put internal controls in place.