Bank of Maldives (BML) has decided to suspend international transaction capabilities for cards held by residents within the Maldives. This strategic measure is being implemented through a newly established digital integration between Maldives Immigration and the bank, aimed at mitigating the current foreign currency shortage and ensuring the equitable distribution of US Dollars for essential requirements.
However, specific concessions have been made for Maldivian students studying abroad. To support their financial needs, a dedicated “Student Card” with a monthly limit of USD 1,200 will be introduced. During the transitional period of three months while these cards are being issued, the bank has facilitated arrangements for students to continue using their parents’ cards for overseas expenses.
