The State Bank of India (SBI) Maldives has announced a partial relaxation of its recently tightened remittance restrictions, increasing the monthly USD limit for workers in the education and health sectors to USD 300 from 19 November 2025. All other expatriate customers will continue to receive a maximum of USD 150 per month.
The revised limits follow new foreign currency allocations issued by the Maldives Monetary Authority (MMA) and strong intervention efforts led by the High Commission of India (HCI) Maldives, which has been working closely with Maldivian authorities to ease the financial strain on Indian nationals.
Priority Given to Essential Sectors
According to SBI Maldives, professionals identified by the MMA as working in education and health were prioritised due to their crucial roles across the Maldives. Other expatriates, including those employed in tourism, construction, hospitality, and private sector jobs, remain under the previously imposed USD 150 ceiling.
Bank Credits HCI and Stakeholders
SBI Maldives stated that the increase was possible only because of sustained engagement by HCI Maldives and coordinated advocacy by customers, partners, and Maldivian institutions. The bank confirmed that it will continue reviewing limits based on future foreign exchange inflows.
Call for Salary Transfers to SBI
SBI Maldives also urged all professionals, especially those benefiting from the enhanced USD 300 limit, to ensure that their monthly salaries are deposited directly into SBI accounts. The bank said that higher inflows of MVR deposits strengthen its case when requesting additional USD allocations from regulators.
Assurance of Continued Monitoring
The bank thanked Indian expatriates for their patience and cooperation during the ongoing foreign exchange shortage, which had led to a steep reduction in remittance limits last month. SBI reiterated that restoring higher limits remains its priority, contingent on dollar availability in the Maldivian financial system.
