Bank of Maldives (BML) has announced an increase in monthly foreign transaction limits on its credit cards, effective from 1 February.

The revised limits apply to Classic, Gold and Platinum credit cards. Under the new structure, the monthly foreign transaction limit for Classic cards has been increased from USD 750 to USD 1,400. Gold card limits have risen from USD 750 to USD 1,500, while Platinum card limits have doubled from USD 1,500 to USD 3,000.

BML said the changes are intended to give customers greater flexibility when making foreign currency transactions, including for travel, online payments and overseas expenses.

The revision follows an announcement made by President Dr Mohamed Muizzu in September 2025, confirming that foreign transaction limits on BML credit cards would be increased from February 2026.

The move is part of broader efforts to improve access to US dollars for individuals and businesses. The Foreign Currency Act, which came into force on 1 January 2025, forms a key part of this policy framework.