MIB limits dollar payments on some commercial platforms, citing misuse of essential use limit

Maldives Islamic Bank (MIB) debit cards have also begun limiting dollar transactions on certain ecommerce platforms.

In a statement issued on Tuesday evening, MIB said the USD 250 limit on its rufiyaa cards was introduced to ensure access to essential services. However, the bank noted that in recent days, some customers had taken advantage of the allowance and used the limit for non‑essential purposes.

To prioritise essential needs, the bank has now decided to disable dollar transactions on selected commercial sites.

With the change, customers will be able to make a maximum of 10 ecommerce transactions, the bank said.

According to MIB, despite the change, customers will still be able to use their rufiyaa debit cards within the USD 250 limit for general‑use subscription platforms, overseas POS transactions, healthcare payments, and vacation‑related expenses, except on the selected commercial sites where dollar use has now been disabled.

The bank said the decision was made to ensure that as many customers as possible can access the allowance for their most essential needs. MIB also apologised for any inconvenience caused.

Apart from MIB, BML has also recently reduced the dollar limit on rufiyaa cards.

The move has drawn significant public criticism, with many customers reporting that BML rufiyaa cards frequently fail on subscription services and online transactions.