Bank of Maldives (BML) has announced that returns on its newly introduced “Investments” scheme for USD-based investments will now be disbursed in US Dollars. Under this initiative, investors can earn returns of up to 25%, with both the principal investment and the accrued profits being handled in USD. However, upon the maturity of the investment period, the funds must be converted into Maldivian Rufiyaa (MVR) at the official exchange rate. The bank facilitates these returns through the 30% fee levied on transactions conducted via international platforms. BML further noted that the demand for US Dollars for overseas transactions has experienced a substantial increase over the past five years.
