In a post on X, President Muizzu stated that he had asked BML and the Maldives Monetary Authority (MMA) to set a limit of USD 1,500 per pilgrim, in addition to the existing dollar limit.
President Dr Mohamed Muizzu has requested Bank of Maldives (BML) to increase the dollar limit on debit cards at the official exchange rate to facilitate Umrah pilgrims.
In a post on X, President Muizzu stated that he had asked BML and the Maldives Monetary Authority (MMA) to set a limit of USD 1,500 per pilgrim, in addition to the existing dollar limit.
Currently, BML debit cards have a USD 250 limit. If implemented, this increase would allow pilgrims to access a total of USD 1,750.
Each year, a significant number of Maldivians travel for Umrah, especially during Ramadan, with many opting to stay for the entire month and the first six days of Shawwal.
The government is taking various measures to stabilize the Maldivian Rufiyaa and address foreign exchange market challenges. President Muizzu noted that the newly implemented Foreign Exchange Act would positively impact reserves in the near future.
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