Bank of Maldives announced on last Wednesday announced an increase in the monthly foreign transaction limit for debit cards for students abroad to USD1,200 in the country that they are residing, effective 1st November 2024.
The Bank’s CEO Mohamed Shareef stated “While there continues to be challenges with USD availability, we also recognize the difficulties faced by students abroad. Today’s announcement reflects our commitment to prioritize and support their everyday financial needs while overseas.”
Students will be required to register with the Bank via an online portal to access the new increased limit, and must submit supporting documents.
Bank of Maldives will continue to assess the USD situation and will inform customers of any future changes.
