The foreign transaction limits on BML cards is set to be increased to USD 1,200. The current limit is set as USD 750.

Principal Secretary to the President on Public Policy Abdullah Nazim Ibrahim told a news conference at the President's Office that the card limit will be increased to USD 1,200 per month from Bank of Maldives credit and debit cards.

Nazim said the dollar limit will be first increased only for students studying abroad. The government will work to expand it to others in the future, he said.

Nazim said the decision to increase the card limit only for students studying abroad was taken after taking into account the current state of the economy and the shocks to the economy if the figures were suddenly increased.

The whole policy is to increase the amount of dollars withdrawn from cards for all Maldivians traveling abroad, he said.