BML Will Not Reduce Foreign Currency Withdrawals from Cards: Finance Ministry

The Bank of Maldives (BML) has assured the Ministry of Finance that it has not decided to reduce the amount of foreign currency transactions using its credit and debit cards.

The ministry said this in a press release following some media reports that the bank has decided to reduce the current allocated amount for foreign currency transactions using bank cards by 90 percent.

In the statement, the ministry said the newspapers had spread untrue news. The bank has assured the Finance Ministry that it has not decided to make such a change.

The Ministry of Finance, the Central Bank, the Maldives Monetary Authority, and the Bank of Maldives are working together to bring about positive changes to the card limit and foreign currency availability.

The ministry said the government is working tirelessly to improve the country's financial and economic situation and reduce debt burdens.

The Ministry of Finance has given full assurance that the government will overcome the slowdown in the economy and bring about a positive change in the prosperity of the people.