The Bank of Maldives (BML) has introduced a new portal for Maldivian students studying abroad, enabling them to increase their monthly foreign transaction limit from USD 750 to USD 1,200.

In a recent statement, BML outlined the registration process, requiring students to submit their passport, student visa, and university enrollment letter to confirm eligibility for the higher limit.

“The increased limit will be processed within one working day,” BML stated, adding that students can track their application through the Student Portal and will receive updates via the Mobile App.

Once registered, the new limit will be activated on the student’s selected debit card, available for spending in their country of residence. Additionally, a portion of the limit—USD 250—can be used for other foreign transactions outside their primary location.

This initiative, first announced by BML on October 23, addresses challenges faced by students abroad, particularly those struggling with expense restrictions due to limited foreign currency access. Increasing the dollar limit for students overseas aligns with a key pledge by President Dr Mohamed Muizzu to support Maldivians studying abroad.