The Bank of Maldives reversed its decision to suspend foreign transaction allowances on debit and credit cards linked to MVR accounts after instructions from the Maldives Monetary Authority amid public backlash. The initial decision, announced earlier on Sunday, had also cut the monthly foreign transaction limit for existing Standard and Gold credit cards to USD 100.
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.
In a brief statement released on Sunday afternoon, the bank announced: “Changes to card limits for foreign transactions announced on 25th August 2024 have been reversed based on instruction from our regulator, the Maldives Monetary Authority.”
Word for word from the report in Maldives Republic. Open the report
Changes to card limits for foreign transactions announced on 25th August 2024 have been reversed based on instruction from our regulator, the Maldives Monetary Authority.
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Additionally, it reduced the monthly foreign transaction limit for existing Standard and Gold credit cards to USD 100.
Word for word from the report in Maldives Republic. Open the report
Earlier reports gave US$100 25 Aug, 13:56 Maldives RepublicUSD 100 25 Aug, 13:40 Maldives Republic
The initial decision, which was implemented earlier on Sunday, had suspended foreign transaction allowances for all existing and new debit and credit cards linked to MVR accounts.
Word for word from the report in Maldives Republic. Open the report
