Bank of Maldives says it will be limiting the withdrawal of USD cash at ATMs and branches to USD 2000 per month, per customer with immediate effect.
In a statement BML said that the Covid-19 pandemic has created many global logistic challenges and the import of US Dollar cash notes into the country has reduced.
BML said with restrictions in overseas travel, there has naturally been a reduced requirement for USD in physical cash, and this limit has been set after careful consideration to minimize the impact on BML customers going forward, and to ensure those who require USD in physical cash can continue to withdraw it for essential needs.
The Bank said customers can continue to make international money transfers through internet banking or MobilePay as normal from their USD accounts.
It said the Bank is also continuing to support individuals and businesses who require USD for overseas transactions, including supplying USD for importers and enabling international transfers from MVR accounts for Maldivians living abroad.
