Maldives Monetary Authority (MMA) has limited the countries eligible for USD1,000 foreign currency allocation for Maldivians travelling abroad for self-funded medical treatment to six destinations.

In a statement today, MMA said the allocation would be available for patients travelling to India, Sri Lanka, Thailand, Malaysia, Singapore and the United Arab Emirates.

MMA has been selling USD1,000 through Bank of Maldives (BML) to patients travelling for treatment abroad since last year, upon submission of medical documents.

The authority said the countries had been selected to ensure that foreign currency allocated for medical treatment was spent directly on that purpose.

However, the MMA said Maldivians travelling abroad for self-funded medical treatment would continue to be eligible for a USD2,000 allocation, despite the restriction on destinations eligible for the USD1,000 allocation.

Medical-related foreign currency sales reached USD41.1 million by the end of last month, three times the amount recorded during the same period last year, according to the MMA.

“The bulk of this amount is accounted for by foreign currency provided to Maldivians going abroad for medical treatment at their own expense,” the authority said.

MMA added that the total amount of foreign currency sold for medical treatment had risen significantly since August last year.

Of the total, USD29.2 million had been sold to Maldivians travelling abroad for self-funded treatment by the end of last month.