Maldives Islamic Bank (MIB) has increased the foreign transaction limit on its cards.
The previous limit for overseas transactions for customers who deposit their salaries into MIB accounts is $100 per month. However, the amount has now been increased to $250
MIB said customers who deposit their salaries into its accounts will enjoy various benefits under the membership of the bank's Mib Club from the first month of depositing their salaries.
Additional benefits for members include a reduction in profit rate from 15 per cent to 13 per cent and a reduction in financing processing fees from 1 per cent to 0.5 per cent if they finance through Ujala Life, the bank's most popular financing facility. In addition, the registration fee for the Visa Everyday Card will be waived.
MIB has visited various offices where salaries are being deposited into the bank's accounts to inform customers about the increase in the dollar limit set for Mib membership club members.
