BML to Limit Online Transactions on Foreign Websites

The Bank of Maldives has decided to impose limits on the number of transactions customers can make on certain foreign e-commerce websites using Maldivian Rufiyaa cards.

Under the new changes, the number of monthly transactions per customer on selected e-commerce platforms will be capped at 30.

Speaking at a press conference held today, BML’s CEO and Managing Director Mohamed Shareef said the move was prompted by the misuse of personal cards by some individuals for large-scale commercial activities on online platforms. He noted that popular websites such as Shein and Temu are among those being monitored.

Shareef explained that the bank is introducing a daily budget allocation system to ensure fair and balanced use of foreign currency for e-commerce transactions. “Transactions from these types of sites will be managed within a set daily budget. There will no longer be unlimited access without restrictions,” he said.

According to the bank, customers making more than 30 transactions per month account for less than 3% of total users. As a result, BML believes the majority of customers will not face significant inconvenience due to this change.

The bank also clarified that these restrictions apply only to Rufiyaa cards. Transactions made using USD-denominated cards will not be affected.