BML Introduces Daily Limits for International Transactions on MVR Cards

Bank of Maldives (BML) will introduce daily limits for international e-commerce transactions made using MVR cards from 13 September 2026, as rising demand places pressure on the bank’s US dollar liquidity.

The bank has allocated up to USD 16 million per month for international online transactions using MVR cards. This allocation will be divided among merchant categories, with separate daily limits based on customers’ usage patterns and the importance of the services.

BML said its MVR cards are currently accepted on more than 40,000 international e-commerce platforms. Usage has risen to an average of over 20,000 transactions per day this year.

According to the bank, the foreign currency required to settle these transactions has significantly exceeded the US dollar liquidity available through its various funding sources. The sustained demand has also affected other foreign currency services, particularly Telegraphic Transfers, which are currently experiencing delays.

Under the new system, transactions will be processed until the daily allocation for the relevant merchant category is reached. Customers whose transactions are declined after a limit is exhausted may try again the following day or use a US dollar card where available.

The daily limits will reset at 7:00am.

USD 3 Million for Major Online Merchants

BML will publish a list of the 150 international e-commerce merchants most frequently used by its customers.

The category will include major retail and technology platforms such as Temu, Alibaba, Apple and Amazon. Transactions with these merchants will share a monthly allocation of USD 3 million, equivalent to approximately USD 100,000 per day.

Education, healthcare, travel, accommodation and other essential services will be excluded from this list and managed separately.

Separate Allocation for Social Media Platforms

Transactions involving social media platforms, including Meta’s Facebook and Instagram services and TikTok, will receive a combined allocation of USD 1.5 million per month, or approximately USD 50,000 per day.

Travel Transactions Limited to Three per Customer

BML has allocated USD 6 million per month—or approximately USD 200,000 per day—for online airline ticket purchases, hotel reservations and other travel-related transactions.

Customers will be permitted to make a maximum of three travel and accommodation transactions within a three-month period.

The bank said the restriction was introduced following a significant increase in customers using their cards to purchase tickets and accommodation on behalf of others. BML said the measure is intended to preserve access to foreign currency for customers’ own genuine travel needs.

USD 3 Million for Essential Subscriptions

Essential subscriptions and other services identified as vital to customers will receive a monthly allocation of USD 3 million, equivalent to approximately USD 100,000 per day.

All other international e-commerce merchants will share a monthly allocation of USD 1.8 million, or around USD 60,000 per day. BML said this category is intended mainly to manage discretionary and non-essential foreign currency spending.

No Category Limits for Health and Education

International transactions related to healthcare and education will not be subject to merchant-level or category limits.

However, these payments will still be processed within BML’s overall USD 16 million monthly e-commerce allocation. The bank said a dedicated buffer would be maintained outside the specified category limits to ensure continued access to these essential services.

BML said it will regularly review transaction volumes, customer usage patterns and its available foreign currency liquidity. Allocations will be adjusted when circumstances permit.

The bank said the measures are intended to manage its foreign currency reserves responsibly, maintain access to essential goods and services and ensure that limits remain sustainable and transparent.