BML to Increase Withdrawal Limit for Students Abroad to US$1,200
The Bank of Maldives (BML) will increase the maximum withdrawal limit for Maldivians studying abroad from US$750 to US$1,200 per month, effective February 1, 2024. The decision followed a cabinet meeting on a paper from the Ministry of Finance. President Muizzu had pledged to address the issue. The Maldives Monetary Authority will assist BML with foreign exchange. BML has faced criticism for strict dollar limits since the pandemic.
The Bank of Maldives (BML) will increase the maximum withdrawal limit for Maldivians studying abroad from US$750 to US$1,200 per month, effective February 1, 2024. The decision followed a cabinet meeting on a paper from the Ministry of Finance. President Muizzu had pledged to address the issue. The Maldives Monetary Authority will assist BML with foreign exchange. BML has faced criticism for strict dollar limits since the pandemic.
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The Bank of Maldives (BML) will increase the maximum withdrawal limit for Maldivians studying abroad from US$750 to US$1,200 per month, effective February 1, 2024. The decision followed a cabinet meeting on a paper from the Ministry of Finance. President Muizzu had pledged to address the issue. The Maldives Monetary Authority will assist BML with foreign exchange. BML has faced criticism for strict dollar limits since the pandemic.
This story involves 1 source and may affect public understanding of foreign exchange / student finance.
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Focus: BML to Increase Withdrawal Limit for Students Abroad to US$1,200
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