Bahrain Imposes Fines of Up to 50,000 Dinars in Gold Trade
Bahrain issued a ministerial decree specifying 23 administrative violations in the gold, jewelry, and auditing trade, with fines ranging between 100 dinars and 50,000 dinars.
Bahrain issued Ministerial Decree No. 46 of 2026, specifying 23 administrative violations related to the gold, jewelry, and auditing trade.
Fines range from 100 dinars to 50,000 dinars. The penalty for dealing with sanctioned individuals reaches between 25,000 and 50,000 dinars, while selling gold for cash valued at 3,000 dinars or more without the required compliance steps incurs a fine of between 1,000 and 2,500 dinars.
The decree was published in the Official Gazette, making it applicable to establishments operating in the sector.
The move aims to tighten anti-money laundering measures in the gold trade, a sector considered high-risk as it relies on large and fast transactions.
What do these terms mean?
Money Laundering: Hiding the source of illegal funds and making them appear to originate from legitimate activity.
Compliance: A company's adherence to laws and regulations, including verifying customer identity and reporting suspicious transactions.
Sanctioned Persons: Individuals or entities listed on rosters whose funds are frozen and with whom dealing is prohibited.
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