President Dr. Mohamed Muizzu has announced that substantial easements will be introduced to the current foreign currency transaction limits on Bank of Maldives (BML) cards by the end of this month. While certain restrictions are currently in effect due to foreign exchange challenges faced by the bank, the President noted that discussions between the President’s Office and the bank have yielded promising signs of a resolution.
Despite these adjustments, the bank has provided assurances that the existing limits for students studying abroad will remain unchanged. BML emphasized that the current restrictive measures were implemented to prioritize foreign currency for essential requirements, and confirmed that general transaction limits will be progressively eased as foreign exchange liquidity improves.
