Petition Calls for Increase in Dollar Limit on MVR Card Transactions
Photo: Voicesmv
An online petition has garnered support as it seeks to raise the dollar transaction limit for MVR accounts that use cards.
Veehaves gina meehun mi petition ga soi kuran jehey. https://t.co/PsAMwS7zuh
— SHUNA⚡️ (@ShunanaMariyam) July 12, 2023advertisement
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The surge in online shopping, in particular, has posed challenges to adhering to the $250 limit. Consequently, there is growing momentum behind the petition calling for a lift on the restriction, with over 300 individuals having already added their names to the campaign since its launch yesterday.
The petition highlights several key concerns. Firstly, it underscores that a significant proportion of individuals employed in the Maldives receive their income in the local currency, MVR. Consequently, the current limit hampers their ability to conduct transactions in dollars effectively.
Moreover, many businesses operating on platforms such as Instagram engage in online buying and selling with foreign counterparts, necessitating dollar transactions. The current card limit exacerbates difficulties encountered in engaging in such commerce.
The petitioners also argue that procuring dollars from the black market, where prices are often inflated, poses a significant challenge. Given the government’s stance on discouraging illicit activities, this situation contradicts their objectives.
In light of these concerns, the petition urges the government, the central bank, the Maldives Monetary Authority (MMA), and banks to raise the dollar limit on debit cards. By doing so, they hope to facilitate smoother dollar transactions and address the current limitations faced by individuals and businesses alike.
