The Bank of Maldives (BML) facilitated USD 2.86 billion in outward remittances during the first nine months of this year, with more than 373,600 remittance transactions processed, according to the bank’s latest figures.
The figures also show a continued increase in the volume of foreign currency released by BML.
The bank said it released USD 722 million in foreign currency to customers during the first nine months of 2026, averaging USD 80 million a month. This represents a 31 percent increase compared with the monthly average in 2025.
Spending on overseas transactions using cards issued in Maldivian rufiyaa averaged USD 37 million a month during the same period. This was 15 percent higher than the monthly average in 2025 and nearly three times the average recorded in 2022.
BML reported that total overseas spending using rufiyaa-denominated cards reached USD 336 million in the first nine months of the year. Of this, USD 208 million was spent on e-commerce, USD 93 million on point-of-sale (POS) transactions and USD 34 million was withdrawn from ATMs overseas.
The bank also released USD 224 million for telegraphic transfers (TTs) during the nine-month period, a 28% increase from the USD 175 million recorded for the whole of 2025.
BML released USD 86 million in cash for travel-related purposes during the period. Of this amount, USD 5.8 million was provided to customers travelling abroad for Hajj and Umrah.
Foreign currency released for educational purposes totalled USD 40 million in the first nine months of the year, a 16 percent increase compared with the corresponding figure for 2025.
For medical purposes, the bank released USD 33 million during the period, more than double the USD 14 million recorded in 2025.
BML also reported a net profit of USD 125.2 million for the first nine months of the year, describing the performance as the strongest nine-month result in the bank’s history.