Dollar shortage leaves BML unable to service several TTs
Saeed said customers can make international transfers using dollars in their accounts and concessions were given last year.
Bank of Maldives (BML) has been unable to sell dollars for some international Telegraphic Transfers (TTs) due to a shortage of dollars.
Several businessmen have shared information with Atoll Times that TT cannot be done through BML recently due to a shortage in available dollars at the bank. This has led to major difficulties and delays in importing goods, they said.
When asked about this, BML's Head of Public Relations Mohamed Saeed told Atoll Times on Monday that the bank is providing dollar assistance to customers based on the dollar requirement.
“However, this assistance is based on the proportion of dollars in the bank’s reserves,” he said.
Saeed said customers can make international transfers using dollars in their accounts and concessions were given last year. They include:
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In February 2023, the monthly limit on dollar withdrawal from ATMs and branches was lifted
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With the change, customers are now able to withdraw up to $1,600 per dollar
In addition, customers who have linked a dollar account as their primary account to a debit card can transact up to $3,000 per day.
