Malé, Maldives – Bank of Maldives on Thursday, announced their plans to increase the credit card limit on foreign transactions, after previously lowering it due to the Covid-19 pandemic.
The announcement was made at the annual general assembly of BML. Although they informed that the card limit will be increased, specific details regarding the amounts are yet to be revealed. BML states that the information will be shared with customers in the coming days.
The current credit and debit card limit for foreign transactions is USD 250 per month. The limit for locals living in foreign countries is USD 750 per month. Along with this, the card limit for those who have their primary account in American Dollars, is USD 3000 per day.
The card limits were previously lowered last September, following difficulties in dollar income due to the Covid-19 pandemic. Although, customers expressed concern over the decision, BML focused on using the dollar income for procurement of necessary items for the country.