This statement follows the BML board’s decision to raise the monthly foreign transaction limit for students abroad using debit cards to USD 1,200, effective November 1, 2024.
President's Office announced today that the government will continue to support the Bank of Maldives (BML) in expanding its role in facilitating financial transactions and boosting the prosperity of the people.
This statement follows the BML board’s decision to raise the monthly foreign transaction limit for students abroad using debit cards to USD 1,200, effective November 1, 2024.
Increasing the foreign transaction limit for students studying abroad was a promise made by President Muizzu.
The government expressed its gratitude to BML for fulfilling this commitment and cooperating in implementing policies aimed at benefiting the public.
The increase in the foreign transaction limit will significantly benefit students and their families, easing financial burdens.
The government reiterated its commitment to maintaining reform measures to reduce expenditure, cut debt, and ensure prosperity for the nation.
This month, for the first time in BML’s history, a Maldivian was appointed as CEO of BML. The new CEO, Mohamed Shareef is the former Deputy CEO with 25 years of experience in the financial sector. Last month, Ahmed Ali Habeeb, Cabinet Secretary to the President's Office, was appointed Chairperson of the bank.
Sign In
