Bank of Maldives (BML) has said that they can only increase the dollar limit on cards once the amount of dollars received by the bank sees an increase.
Bank of Maldives (BML) has said that they can only increase the dollar limit on cards once the amount of dollars received by the bank sees an increase.
BML said that they cannot comment on the dollar situation in the country. However, they stated that BML is even currently selling a larger amount of dollars than is available in the market.
BML set lower limits on online transactions on cards during the Covid 19 pandemic. They have since been revising this limit and gradually increasing it.
The last changes were brought in 2021. That year, the limit on online transactions via credit cards were increased to USD 750. Even to date, the limit for foreign transactions on debit cards remain at USD 250.
The bank said that foreign transactions with the use of BML cards have been increasing monthly, and maintained that they are unable to increase the limit until a higher amount of dollars starts being received by the bank.
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