Dollar ATM to be installed at islands with guesthouses

President Dr. Mohamed Muizzu said last night that work is being done to install Dollar ATMs at islands that have advanced in the local tourism field.

He also stated that Dollar ATMs will be installed in an additional 40 islands in early 2026.

During his current Meemu Atoll visit, the President met with residents of Muli and said that it is his pledge to install ATMs in all of Maldives' islands by the end of the year. He also said that it can even be achieved now with two months to spare.

As per the President, he had pledged to install Dollar ATMs in just a few islands. However, since it is of great importance, he decided to install Dollar ATM's in more islands.

President Muizzu stated that Dollar ATMs are essential in curbing the Dollar issue, along with them being important for the development of the tourism business. He acknowledged the requests for ATMs to be installed in islands that have a hand in local tourism, with its benefits towards businesses and the banking system being apparent in the future.

The President said that the Dollar ATM will be installed in order of islands that have the most amount of local tourism to the least. He stated that the installation will begin within the first three months next year.

"I have requested for ATMs to be installed in places that don't have Dollar ATM's such as all of Maldives' urban centers, cities and islands that have the most amount of local tourism (in order from most to least) for a total of 40 islands. An additional 40 islands will see the ATMs within the first three months of 2026," said the President.

As per the President, this is the first step in installing Dollar ATMs. He also said he hopes that a solution to the issue of rising Dollar rates will come out of from this.

The President also stated that another step being taken through the bank is the increase of international Dollar transaction limits via debit card, from USD 500 to USD 1,000. This change will be brought about on November 11, in connection with BML's anniversary.

President Muizzu also announced that the limit for airline ticket and international hotel transactions from debit cards would be increased to USD 3,000 from 11th November onwards.