The Bank of Maldives (BML), with assistance from the Maldives Monetary Authority (MMA), has introduced special easements today to address the foreign currency difficulties faced by Maldivian students studying abroad when paying for their visa fees.

Previously, the national bank accommodated foreign currency requests for student visa fees strictly on a case-by-case basis for individual students.

BML Spokesperson Mohamed Saeed announced the policy change in a post on X today, noting that the bank has decided to extend this opportunity to all students studying abroad starting today. He explained that with the support of the MMA, the bank will now allocate a specific card limit to any student who submits an application to pay for their visa fees.

BML has already established several mechanisms to help students easily manage foreign currency for their tuition fees and living expenses while overseas. This includes an increased monthly transaction limit of $1,200 on Maldivian Rufiyaa cards for students pursuing higher education abroad. Furthermore, the bank continues to facilitate direct payments for tuition fees and other education-related expenditures via Telegraphic Transfer (TT) directly from the Rufiyaa accounts of students or their parents.