BML: No limits imposed for subscriptions; report failed payments for immediate solutions

Bank of Maldives (BML) has clarified that subscriptions for commonly used services are not subject to the recently imposed transaction limits, assuring customers that any reported issues will be addressed promptly through appropriate solutions.

BML recently introduced a limit of 30 e-commerce transactions per customer per month as part of efforts to ensure a more equitable distribution of the available e-commerce budget. Following the announcement, several customers reported difficulties in processing payments for service subscriptions, prompting criticism of the national bank.

In response, BML, via a post on X on Thursday, said subscription payments are exempt from the 'daily foreign spending' limits and should therefore not be affected by the new restrictions.

We are proactively attending to subscription payments that have been declined for various reasons.

If your subscription payment has declined, please contact us directly, and we will immediately provide the appropriate solution.

— Bank of Maldives (@bankofmaldives) June 5, 2026

However, the bank acknowledged that some customers have experienced issues with subscription payments due to various factors and noted that such cases are currently under review.

BML advised customers to directly report any failed subscription payments, assuring them that the bank will immediately provide the appropriate solution.

Prior to this, the bank  released statistics highlighting the growing volume of foreign currency provided to businesses and individuals. According to the data, BML had facilitated USD 198 million in debit and credit card transactions as of the end of last month. The bank further noted that it facilitates an average of USD 40 million in such transactions each month.

BML also disclosed that it has sold USD 69 million more than the total amount of foreign currency it has purchased so far this year.

The clarification follows remarks made by President Dr. Mohamed Muizzu on Monday, in which he stated that BML's recent measures were necessitated by challenges faced by the bank. He added that BML had indicated the foreign exchange situation is expected to improve by the end of this month.