Bank of Maldives has announced a significant increase in monthly foreign transaction limits on its credit cards, a move aimed at easing long-standing constraints faced by Maldivians when making overseas payments.
The revised limits will take effect from 1 February, expanding spending capacity across all major BML credit card categories. Under the changes, the monthly foreign transaction limit on Classic Credit Cards has been increased from USD 750 to USD 1,400. Gold Credit Card holders will now be able to spend up to USD 1,500 per month, double the previous cap, while Platinum Credit Card users will see their limit rise from USD 1,500 to USD 3,000.
The adjustment addresses persistent public concerns over restricted access to foreign currency, particularly for essential expenses such as education fees, medical treatment abroad, online subscriptions and services, and international travel. The move follows a pledge made by President Mohamed Muizzu to reduce financial pressures on households and improve access to international payments.
Officials say the tiered increase reflects a measured approach, providing greater flexibility to cardholders while maintaining prudent foreign currency management. By differentiating limits across card categories, the bank aims to balance consumer needs with overall financial stability.
BML said the new limits will be applied automatically from February, removing the need for customers to take additional action and reinforcing confidence in the national banking system.
The increase is seen as part of a broader push by the current administration to introduce practical, people-focused economic measures, translating policy commitments into tangible relief for individuals and businesses that rely on overseas transactions
