.svg)
Bank of Maldives (BML) has announced today its decision to suspend dollar transactions through ATMs and POS machines for customers using their bank cards within the Maldives. This decision is expected to bring significant changes to domestic dollar transactions.
Mariyam Adheela
BML CEO, Mohamed Shareef -- Photo: Bank Of Maldives
Bank of Maldives (BML) has announced today its decision to suspend dollar transactions through ATMs and POS machines for customers using their bank cards within the Maldives. This decision is expected to bring significant changes to domestic dollar transactions.
Furthermore, the bank has decided to set a specific budget for each individual for purchases from foreign online stores. The details of these changes were disclosed by the bank's CEO, Mohamed Shareef, during a press conference.
Speaking at the press conference, CEO Shareef stated that these measures had to be taken because the demand for dollars sold by the bank significantly exceeds the amount of dollars the bank receives. "These measures had to be implemented because the volume of
dollars the bank is required to sell is substantially higher than the dollars being received by the bank," Shareef said.
The bank describes this decision as a robust measure taken to manage foreign currency. The bank also informed that it will continue to monitor the impact these changes will have on the lives of the general public and businesses.
Subscribe
