BML to double overseas debit card limit to $1,000 from 11 Nov
The limit for airline tickets and debit card payments for hotels abroad will be increased to USD 3,000.
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The Bank of Maldives (BML) will increase the overseas debit card payment limit at POS terminals from USD 500 to USD 1,000 from 11 November, President Mohamed Muizzu announced on Monday.
Speaking in M. Muli, the President outlined several measures being introduced by the government to ease the shortage of US dollars. He said the change will be officially launched on 11 November.
Additional services to be introduced on the same date include:
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Increasing the limit for airline tickets and debit card payments for hotels abroad to USD 3,000.
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Allowing debit card payments for overseas medical treatment upon request.
The President said these changes aim to reduce reliance on informal dollar trading.
From January 2026, BML will also allow accounts to be opened in Chinese yuan. Customers will be able to use UnionPay debit and credit cards, accepted in more than 180 countries, for transactions linked to these accounts. The President added that the bank is also working to introduce accounts in Indian rupees.
He said the expansion of accounts in other major currencies would help address the shortage of US dollars, noting that both the yuan and the rupee are widely traded in addition to the dollar.
