The Cabinet decided to raise the maximum monthly US dollar withdrawal limit for Maldivian students studying abroad from US$750 to US$1,200, effective February 1 [2024]. The general withdrawal limit for other customers within the Maldives remains at US$250.
One outlet so far Only Maldives Republic has reported this among the sources we monitor. A gap in what we monitor, not proof that others did not report it.
The decision came after ministerial discussions on a paper submitted by the Ministry of Finance at a Cabinet meeting held on Monday.
Word for word from the report in Maldives Republic. Open the report
At a press conference held at the Presidential Office on Monday, the Principal Secretary to the President on Public Policy, Abdulla Nazim Ibrahim, said the government is taking measures to address the difficulties faced by students due to the US dollar limit.
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The Cabinet has decided to increase the amount of money [US dollars the can be withdrawn or spent while abroad] from each student’s card to $1,200 from February 1 [2024].
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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.
Word for word from the report in Maldives Republic. Open the report
The Bank of Maldives (BML) will increase the maximum withdrawal limit for Maldivians studying abroad from US$750 to US$1,200 per month.
Word for word from the report in Maldives Republic. Open the report
the maximum withdrawal limit for others, including for customer transactions within the Maldives, which has remained at US$250 for over two years.
Word for word from the report in Maldives Republic. Open the report
