Bank of Maldives (BML) has increased the limit for payments through Point of Sale (POS) terminals abroad using its debit cards to USD 1,000.

During his visit to M. Muli on September 22, President Dr. Mohamed Muizzu met with the island's residents and stated that November 11 is BML's anniversary, and from that day, the bank had decided to increase the limit for purchasing airline tickets and paying for hotels abroad using debit cards to USD 3,000.

BML announced today that starting tomorrow, the total amount that can be used with debit cards will be USD 3,000.

This includes USD 1,000 for payments through card machines abroad, and USD 3,000 for paying for travel tickets, hotel accommodations, and medical treatment abroad.

BML has also introduced a new financing facility for Maldivian businesses today and reduced the Merchant Merchant Discount Rate (MDR) charged on all BML debit cards used at BML card machines to one percent.

BML said this is one of the positive changes introduced in connection with the bank's 43rd anniversary.