President Dr. Mohamed Muizzu announced today that a decision has been made to introduce easements to the significant restrictions recently placed by the Bank of Maldives (BML) on foreign online transactions conducted via Maldivian Rufiyaa cards, adding that these changes will be publicized shortly.

Responding to a question from a journalist during a press conference at the President's Office today, the President stated that BML will officially announce the specific details of these easements late this week or early next week.

BML has previously noted that it is working on bringing positive changes to the current limits imposed on foreign e-commerce transactions. The bank also stated that customers would be able to experience the benefits of these adjustments before the end of this month.

Starting last month, BML implemented restrictive changes regarding foreign e-commerce and online transactions made using Maldivian Rufiyaa cards. Under these regulations, the total number of transactions a customer can make on international e-commerce websites was capped at 30 transactions per month.

Under the current policy enforced by BML, transactions up to $1,000 per month are allowed via Point of Sale (POS) terminals abroad. Furthermore, a monthly limit of $3,000 is allocated for specific essential expenditures, such as medical treatment, education, airline ticket purchases, and hotel bookings.