Visitors and residents alike will soon find it easier to manage international expenses as the Bank of Maldives (BML) has announced substantial revisions to both debit and credit card limits. The changes were unveiled by President Dr Mohamed Muizzu, who linked the decision to his administration’s wider plan to create a more reliable and transparent system for foreign exchange access.
Starting 11 November, travelers using BML debit cards will see their foreign spending power immediately increase. Purchases made at Point of Sale (POS) terminals abroad will now be allowed up to USD 1,000, a considerable step up from previous restrictions. Even more importantly for international tourists and Maldivians traveling abroad, the ceiling for airline ticket and hotel bookings has been raised to USD 3,000, easing what was previously a common hurdle when arranging overseas travel. In addition, BML confirmed that payments for medical treatment at foreign hospitals can now be facilitated directly through requests to the bank, removing red tape that had previously delayed access to crucial healthcare services abroad.
Looking ahead, beginning 1 February next year, credit card holders will also benefit from increased monthly allowances. The widely used Classic card will nearly double its limit, moving from USD 750 to USD 1,400, while Gold cardholders will enjoy a new monthly limit of USD 1,500. For those holding Platinum cards, the ceiling will rise from USD 1,500 to USD 2,000, offering the highest level of access yet.
In his address, President Dr Muizzu stressed that the reforms are intended to reduce reliance on the unregulated parallel currency market while giving both locals and international travelers more dependable means to access foreign exchange. The move also reflects the government’s pledge to create conditions that support tourism, trade, and personal travel without unnecessary financial bottlenecks.
For tourists visiting the Maldives, these changes mean smoother transactions when arranging outbound travel after their stay, or when booking future journeys. For Maldivians, the expanded medical and travel transaction windows provide greater flexibility in managing urgent and essential needs abroad. Collectively, the revisions highlight the government’s commitment to making financial services more traveler-friendly while strengthening confidence in the Maldives’ formal banking channels.
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