Maldives Islamic Bank (MIB) has introduced specific limitations on transactions conducted through its Maldivian Rufiyaa (MVR) cards on e-commerce platforms. This measure was implemented following observations that some customers were misusing the standard $250 monthly allowance intended for essential needs. By introducing these restrictions, the bank aims to ensure fair and equitable access to foreign exchange for all its customers.
Under the new policy, customers are now restricted to a maximum of 10 e-commerce transactions per month. However, the existing $250 monthly limit remains unchanged and fully accessible for transactions at overseas POS terminals, as well as for essential expenditures related to healthcare, education, and standard digital subscriptions.
