The government has expressed its appreciation to the Bank of Maldives (BML) for increasing the dollar spending limit for students studying overseas.

In a statement from the President's Office, the government acknowledged BML’s support in implementing policies set by President Dr. Mohamed Muizzu aimed at improving the welfare of the public and addressing challenges faced by citizens.

As part of this initiative, and following a Cabinet decision on December 24, 2023, the Bank of Maldives will raise the dollar limit on BML Rufiyaa debit cards to USD 1,200, starting next month. 

This move is expected to provide significant relief to students and their families, easing financial transactions while abroad.

The government also reaffirmed its commitment to supporting the Bank of Maldives in expanding its role in national development, enhancing economic prosperity, and facilitating smoother financial operations.

Additionally, the government emphasized its focus on strengthening reform measures to reduce public expenditure, lower debt, and secure a prosperous future for the country.