Bank of Maldives (BML) has introduced a dedicated portal allowing students to raise the monthly foreign transaction limit on their debit cards to USD 1,200. Students can access this benefit by registering on the new platform and submitting their passport, visa, and university enrollment letter.
This initiative follows the government’s October 13 decision to increase foreign transaction limits for students abroad, addressing financial concerns by lifting the previous USD 750 limit starting November 1. Once a student’s limit is updated, they receive confirmation via BML’s mobile app within 24 hours.
The government expressed gratitude to BML for its support, noting this move aligns with President Dr. Mohamed Muizzu’s broader economic reforms, aiming to ease financial strain on students and their families and reinforce the bank’s role in improving financial accessibility for Maldivian residents.
