19/10/2024
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19/10/2024
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KUWAIT CITY, Oct 19: Minister of Commerce and Industry, Khalifa Al-Ajeel, has issued a decision to prohibit cash transactions in the sale of vehicles, effective from October 14. The new regulations will apply to activities involving car sales and agents selling both light and heavy vehicles on commission basis.
The decision adds four additional categories to the existing restrictions: "buying and selling motor vehicles," "wholesale and retail trade of new and used motor vehicles," "car auctions," and "Sale of scrap cars".
This follows an earlier decision by Al-Ajeel, which, starting October 1, banned cash transactions for companies and individual businesses involved in the sale of all types of vehicles, whether wholesale, retail, or on commission.
