Bank of Maldives (Bank of Maldives) has indicated that it will ease restrictions on monthly transactions for certain foreign e-commerce platforms commonly used by Maldivians by the end of this month, President Dr Mohamed Muizzu has said today.

Speaking at the President’s weekly press briefing, President Muizzu said the bank had faced a shortage of foreign currency, leading to tighter controls on debit card usage for overseas online purchases.

He said Bank of Maldives had now indicated it would introduce “an extensive” relief on the limits later this month.

“Bank of Maldives is currently placing limits due to difficulties. However, when I tried to get information from the bank through the President’s Office yesterday, they have indicated that they will provide ease by the end of this month,” he said.

Previously, BML debit cards allowed up to USD 250 per month for international goods and services, later increased to USD 500. However, tighter restrictions were introduced again amid pressure on foreign currency reserves.

The limits have led to growing public frustration, with many customers reporting failed transactions on overseas shopping sites.

The foreign spend limits for POS and ATM withdrawals abroad remain active only when cardholders are overseas. The measures were also introduced amid concerns over misuse of cards by third parties.

BML has also imposed a 30 percent fee on transactions with several major e-commerce platforms, including Temu, Shein, Alibaba, AliExpress, Lazada and eBay.

In September last year, the bank increased overseas POS spending limits to USD 1,000, while a separate limit of USD 3,000 applies for airline tickets, hotel bookings, and medical payments abroad.