BML Raises Foreign Transaction Limit for Students Abroad to USD 1,200

MV+ News Desk | October 24, 2024

The Bank of Maldives (BML) has announced an increase in the monthly foreign transaction limit for debit cards used by students residing abroad. Effective from 1st November 2024, students will be able to make transactions up to USD 1,200 in the country where they are studying.

In a statement issued yesterday, BML acknowledged ongoing challenges with the availability of US dollars but highlighted the need to support students overseas.

To access the increased limit, students will be required to register through the Bank’s online portal and submit the necessary supporting documents. Further details on the registration process will be provided at a later date.

BML also stated that it will continue to monitor the USD availability situation and inform customers of any future changes.

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