Bank of Maldives has announced a substantial increase in monthly foreign transaction limits on its credit cards, delivering on a key pledge by President Dr Mohamed Muizzu to ease financial pressures on Maldivians and improve access to essential international payments.
Effective from 1 February, the revised limits significantly expand overseas spending capacity across all major BML credit card categories. The monthly foreign transaction limit for Classic Credit Cards has been raised from USD 750 to USD 1,400, while Gold Credit Card holders will now be able to spend up to USD 1,500, compared to the previous USD 750 cap. Platinum Credit Card holders will benefit from the largest increase, with their limit doubled from USD 1,500 to USD 3,000.
The increase directly addresses long standing public concerns over restricted access to foreign payments, particularly for education, medical treatment, online services, and overseas travel. The move aligns with President Muizzu’s broader economic policy direction, which prioritises easing daily hardships while maintaining responsible foreign currency management.
By implementing differentiated limits across card tiers, Bank of Maldives has adopted a balanced approach that expands consumer flexibility without undermining financial stability. The automatic application of the new limits from February further reinforces confidence in the national banking system.
The decision reflects the administration’s commitment to practical, people focused economic measures, translating policy pledges into tangible financial relief for Maldivian households and businesses.
