President Dr. Mohamed Muizzu has urged the Bank of Maldives (BML) to increase the dollar spending limit on debit cards at the official exchange rate to support Maldivian Umrah pilgrims.

In a post on X, President Muizzu stated that he had requested both BML and the Maldives Monetary Authority (MMA) to set a new limit of USD 1,500 per pilgrim, in addition to the existing cap. Currently, BML debit cards have a USD 250 limit, meaning the proposed increase would allow pilgrims to access a total of USD 1,750.

Each year, a large number of Maldivians undertake the Umrah pilgrimage, particularly during Ramadan, with many staying for the entire month and the first six days of Shawwal.

The government continues to implement measures to stabilize the Maldivian Rufiyaa and tackle foreign exchange challenges. President Muizzu highlighted that the recently enacted Foreign Exchange Act is expected to positively impact the nation’s reserves in the near future.