In a decisive move aimed at easing the financial burden for Maldivians undertaking the sacred Hajj pilgrimage, President Dr Mohamed Muizzu has directed the Bank of Maldives (BML) to raise the foreign transaction limit on debit cards for pilgrims to USD 2,000.
The announcement, made via a social media post by the President, reflects the administration’s continued efforts to support religious obligations with tangible policy action. President Muizzu noted that he had formally requested BML to increase the limit for Hajj travellers—initially seeking an increase to USD 1,750, which was later approved at USD 2,000.
This new ceiling represents a substantial increase from the bank’s standard USD 250 limit for international transactions on debit cards. The updated allowance, which will be offered at the official exchange rate of MVR 15.42, will be available exclusively to pilgrims performing Hajj this year.
President Muizzu had earlier taken similar steps for Maldivians undertaking Umrah during Ramadan in March, increasing the debit card foreign spending limit to USD 1,500 to ease their pilgrimage experience. The administration’s repeated interventions underscore its focus on easing currency-related constraints for Maldivians abroad—especially those fulfilling religious duties.
These developments follow the ratification of the Foreign Currency Act earlier this year, a landmark piece of legislation that requires companies, especially in the tourism sector, to exchange a portion of their foreign currency earnings through local banks. The move is aimed at strengthening the country’s currency reserves and ensuring better regulation of foreign exchange flows.
Beyond pilgrimage-related spending, the President has unveiled broader plans to double the amount of US dollars available to Maldivians travelling abroad through Velana International Airport (VIA). Currently capped at USD 500 per passenger, this limit is set to rise to USD 1,000 by early 2026. Credit card spending limits are also expected to increase to USD 1,400 by the second quarter of the same year.
Through these reforms, President Muizzu continues to position his administration as one that takes swift and deliberate action to protect the interests of everyday Maldivians—especially when it comes to matters of faith and financial accessibility.
