Bank of Maldives (BML) has officially increased foreign spending limits on its debit cards, completing a key commitment announced earlier by President Dr. Mohamed Muizzu to expand overseas currency access for Maldivians.
Effective November 11, BML debit cardholders can now spend up to USD 1,000 per month for international Point-of-Sale (POS) transactions. For medical and travel purposes, the limit has been raised to USD 3,000 per month. Customers can begin using these enhanced limits immediately without any additional application process.
President Muizzu had earlier confirmed that debit card spending limits would be revised upward as part of his government’s pledge to make foreign currency more accessible for ordinary citizens. The policy shift was first outlined in his administration’s financial reform measures aimed at improving liquidity and reducing everyday constraints on international transactions.
The increase represents a major relief for Maldivians who have long faced strict limitations on card usage abroad due to foreign exchange restrictions. It also reflects broader efforts by the Muizzu administration to normalize foreign currency flows, stabilize the rufiyaa, and ensure equitable access to essential financial services.
The announcement coincides with BML’s 43rd anniversary, during which the Bank also introduced several customer-focused initiatives, including a significant cut in merchant fees and new financing facilities for businesses.
The expanded debit card limits are expected to benefit thousands of Maldivians, particularly those traveling overseas for medical treatment, education, or professional purposes, as well as families supporting relatives abroad. The move further strengthens public confidence in both the national banking system and the government’s economic reform agenda.
