President Dr. Mohamed Muizzu has announced major changes to card limits and ATM access.
From November 11, Bank of Maldives will raise the international spending limit on debit cards to USD 1,000. A separate USD 3,000 limit will apply for airline and hotel payments. Patients traveling overseas can also pay hospitals directly with their debit cards.
The President confirmed that UnionPay debit and credit cards will be introduced next year for Yuan accounts. He also said dollar ATMs will be installed in 40 islands within the first three months of next year.
According to the President, these measures are aimed at easing pressure on the black market and stabilizing the economy.
