Bank of Maldives has clarified that there is no limit on the number of transactions customers can make using their US dollar account cards at retail platforms.

The bank issued the clarification following public concern over restrictions on monthly transactions on certain foreign e-commerce websites.

BML stated that customers can make unlimited purchases on retail platforms such as Temu and Shein using their US dollar accounts. However, the bank noted that limits have been placed on the amount of US dollars allocated for such transactions.

According to BML, the move comes amid concerns that some individuals are using Maldivian rufiyaa (MVR) cards intended for personal use to conduct unusually high volumes of online purchases.

The bank said this has led to a disproportionate share of foreign exchange outflows being used by a small group of customers. It noted that only around three per cent of users make more than 30 foreign transactions per month.

BML added that for every foreign transaction made in MVR, the bank is required to remit US dollars abroad, placing pressure on foreign currency reserves. The bank described the changes as a positive step to better manage foreign exchange usage while supporting legitimate e-commerce activity.