BML Decides to Increase Dollar Allocation for TTs

Mohamed Hilmy

12 August 2026, 15:19

Following the Maldives Monetary Authority’s (MMA) decision to increase the amount of foreign currency issued to banks for a three-week period, Bank of Maldives (BML) has decided to temporarily boost dollar allocations for Telegraphic Transfers (TTs) over the next three weeks, taking into account the increased dollar supply and customer requests.

From January through the end of July this year, the bank issued more than $186 million to customers for outgoing TTs. This represents a monthly average of $27 million—an increase of $12 million compared to the monthly average in the previous year.

Over the past seven months, the bank provided nearly $570 million to meet various customer needs, averaging approximately $2.7 million per day.

BML reaffirms its commitment to providing foreign currency for the diverse needs of individuals and businesses. One of the bank’s primary responsibilities remains sustainably balancing customer demands with its foreign currency liquidity position.

BML Decides to Increase Dollar Allocation for TTs

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