President Mohamed Muizzu has announced a significant move to ease the financial process for Maldivian pilgrims traveling for Umrah during the upcoming Ramadan. On Monday, the President directed the Maldives Monetary Authority (MMA) and the Bank of Maldives (BML) to increase the foreign exchange limit on BML debit cards for those undertaking the sacred pilgrimage.
Currently, the limit for accessing foreign currency through BML debit cards is set at $250. However, under President Muizzu’s new directive, each pilgrim will now be allowed to access up to $1,750, a $1,500 increase from the original limit. This decision ensures that Umrah travelers will be able to access the funds they need at the official exchange rate of 15.42 MVR to the dollar.
In a post on X (formerly Twitter), President Muizzu emphasized that these steps were taken to facilitate easier access to foreign exchange for Maldivians performing Umrah, a religious journey undertaken by many during the holy month of Ramadan. The Ministry of Islamic Affairs has noted a steady increase in the number of pilgrims traveling for Umrah each year, reflecting the growing demand for religious travel.
The adjustment is expected to help ease the financial burdens on pilgrims, making the process more convenient and accessible for those embarking on this significant religious journey.
