The Ministry of Finance has stated that the Bank of Maldives (BML) will maintain the current limit for United States (US) dollar transactions on its debit and credit cards. Reports circulating in local media about a potential reduction in the limit were dismissed by the Ministry of Finance, affirming that BML has not taken such action.
In a statement, the finance ministry said that BML has assured that there are no plans to decrease the amount of foreign currency that can be withdrawn using the bank's credit and debit cards. The government, along with the Maldives Monetary Authority (MMA) and BML, are collaborating to address economic and financial challenges by considering positive adjustments to card limits and the foreign exchange market.
Additionally, the finance ministry said that efforts are underway to enhance the Maldives' economic and financial situation, alleviate debt burdens, and facilitate foreign exchange earnings. The government remains committed to overcoming financial challenges and improving economic conditions for the benefit of the citizens.
Furthermore, the finance ministry urged media outlets in the Maldives to report responsibly, ensuring accuracy and avoiding dissemination of information that may cause undue concern among the public.