According to statistics released by the Bank of Maldives (BML), the bank facilitated USD 136 million for Telegraphic Transfers (TTs) through the end of April this year, marking an increase compared to the previous year. During the first four months of the year, the bank’s total foreign exchange disbursement—encompassing both TTs and card-based transactions—amounted to USD 296 million. Of this total, card transactions alone accounted for an average of USD 40 million per month. Although foreign currency inflows to the Maldives rose to USD 1.58 billion this year, the total volume of outward remittances and payments also saw a significant increase, reaching USD 1.45 billion.
