The Bank of Maldives, BML, says it has allocated more than USD 3 million per month to all transactions made through MVR cards from the top e-Commerce merchants in the world.
This comes after the bank unveiled measures today to ensure sustainable and transparent limits for MVR card transactions on international e-commerce platforms.
It said that the bank has introduced daily transaction limits for MVR cards used on international e-commerce platforms.
These limits, which are designed to be transparent, sustainable, and subject to periodic review, will come into effect on 13 September 2026.
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Top e-commerce Merchants
The Bank said that it will publish a list of the 150 most frequently used international e-commerce merchants. The list will exclude education, medical services, travel, accommodation and other essential services, which will be managed separately.
The category will include major international retail and technology platforms such as Temu, Alibaba, Apple and Amazon. A combined allocation of USD 3 million per month (approximately USD 100,000 per day) will be available for transactions with these merchants.
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Social Media platforms
A dedicated allocation will be provided for transactions with social media platforms, including Meta (Facebook and Instagram) and TikTok, based on current customer usage.
This category will have an allocation of USD 1.5 million per month (approximately USD 50,000 per day).
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Travel and Accommodation
Travel-related transactions, including online airline ticket purchases and hotel bookings, will have an allocation of USD 6 million per month (approximately USD 200,000 per day).
Given the significant increase in foreign currency outflows arising from customers purchasing travel tickets and accommodation on behalf of other individuals, a limit of three transactions per customer within three months will apply to merchants in this category.
This measure is intended to ensure that the available allocation remains accessible to customers for their own genuine travel requirements.
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Essential Subscriptions and Other Vital Services
An allocation of USD 3 million per month (approximately USD 100,000 per day) will be designated for essential subscriptions and other categories identified as vital customer needs.
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. All Other Merchants
All remaining international e-commerce merchants will share a combined allocation of USD 1.8 million per month (approximately USD 60,000 per day).
This allocation is intended primarily to manage discretionary and non-essential foreign currency spending while preserving sufficient foreign currency for essential customer requirements.
BML will regularly review transaction volumes, customer usage patterns, and the Bank’s available foreign currency liquidity and will adjust category allocations when circumstances permit.
