President Dr Mohamed Muizzu has announced a significant hike in the dollar limits on Bank of Maldives (BML) credit cards, effective 1 February 2026, as part of the government’s strategy to improve access to foreign currency.
Ahead of this change, debit card transaction limits will be revised from 11 November 2025, a move the President said would ease reliance on the black-market dollar trade.
From February, BML Classic cardholders will see their monthly limit rise from USD 750 to USD 1,400, while Gold card limits will increase from USD 750 to USD 1,500. Platinum cardholders will see their ceiling lifted from USD 1,500 to USD 2,000.
Debit card limits are also being raised this November: POS transactions abroad will increase to USD 1,000, while payments for airline tickets and hotel bookings abroad will rise to USD 3,000. The bank has further pledged easier facilitation of payments for overseas medical treatment.
The President said these reforms mark a major step towards reliable access to foreign exchange, reducing public dependence on parallel currency markets.
