The Bank of Maldives (BML) has announced plans to relax restrictions on overseas online transactions made using Maldivian rufiyaa cards, with revised arrangements expected to be introduced before the end of this month.
The move comes amid growing public concern over difficulties faced by customers attempting to make online purchases and payments following the introduction of new restrictions last month.
BML said it is currently reviewing the limits imposed on overseas e-commerce and online transactions conducted using MVR-denominated cards and is working on measures aimed at improving customer access to foreign currency services.
The bank introduced the restrictions after demand for US dollars significantly exceeded the volume of foreign currency available to the institution, resulting in challenges in sustaining overseas card transactions.
Since the changes were implemented, many customers have reported failed transactions, particularly when attempting to make purchases from international online merchants after daily foreign currency allocations had been exhausted.
While the bank is yet to disclose details of the revised framework, it confirmed that changes will take effect before the end of June.
BML also assured customers seeking foreign currency for essential purposes, including medical treatment and education abroad, that additional assistance would continue to be provided.
Under the current policy, customers travelling overseas are permitted to spend up to USD 1,000 per month through point-of-sale transactions using their cards. In addition, a separate monthly allowance of USD 3,000 is available for expenses related to airline tickets, hotel bookings and hospital payments.
The bank noted that these limits remain unchanged and have been maintained at the levels introduced during the most recent revision.
According to BML, demand for foreign currency has continued to rise sharply. During the first five months of 2026 alone, the bank sold USD 345 million in foreign currency, representing a 47 percent increase compared to the same period last year.
Of that amount, USD 198 million was utilized for card transactions, while businesses accounted for USD 147 million in foreign currency purchases.
The Maldives has faced persistent foreign currency pressures in recent years, driven by rising import costs, increasing outbound travel and growing demand for international online transactions.
In response, BML said it is continuing efforts to improve foreign currency availability in collaboration with the Maldives Monetary Authority (MMA) while seeking long-term solutions to manage demand sustainably.
The planned easing of restrictions is expected to bring relief to customers who have expressed concerns over difficulties in accessing foreign currency for everyday online purchases and international payments.
