Bank of Maldives (BML) will ease the current foreign transaction limits on its cards before the end of this month, the bank’s Spokesperson Mohamed Saeed told The Standard.
Speaking over the phone with The Standard, Saeed said the bank is currently working on positive changes to the existing limits on foreign e-commerce transactions and that customers will begin benefiting from the adjustments before the end of June.
The announcement comes after BML introduced restrictions on foreign e-commerce and online transactions conducted through Maldivian Rufiyaa (MVR) cards last month, citing demand for US Dollars that exceeded the bank’s available supply.
“We are working on changes that will improve the current foreign e-commerce transaction limits, and customers will see the benefits before the end of this month,” Saeed said.
He added that BML will also provide additional support to customers who face difficulties in making payments for medical treatment and educational purposes.
Under the current policy, customers travelling abroad can spend up to USD 1,000 per month through Point-of-Sale (POS) terminals. In addition, a separate monthly limit of USD 3,000 is available for airline ticket purchases, hotel bookings and hospital-related payments. These limits remain unchanged and were previously increased by the bank.
According to figures released by BML, the bank sold USD 345 million during the first five months of this year, marking a 47 percent increase compared to the same period in 2025.
Of the total amount sold, USD 198 million was used for card transactions, while USD 147 million was allocated to businesses. On average, the bank supplied USD 69 million per month to meet demand for foreign currency.
Saeed said the bank is making every effort to provide as much foreign currency as possible to customers and businesses, noting that the Maldives Monetary Authority (MMA) has assured its support in helping address foreign currency requirements.
Despite the temporary restrictions introduced last month, BML maintains that it continues to offer the highest foreign transaction limits on Maldivian Rufiyaa cards among banks operating in the Maldives.
The planned easing of transaction limits is expected to provide relief for customers who rely on foreign online payments for travel, subscriptions, education, healthcare and other international expenses.
