Maldives Islamic Bank (MIB) debit cards have started to restrict dollar transactions on specific ecommerce sites.
In a statement released on Tuesday evening, MIB indicated that the USD 250 cap on its rufiyaa cards was implemented to guarantee access to vital services. The bank observed that lately, some customers have exploited the allowance and utilized the limit for purposes that are not essential.
To focus on crucial necessities, the bank has now chosen to disable dollar transactions on certain commercial websites.
According to the bank, customers will now have the capability to complete up to 10 ecommerce transactions.
MIB states that even with the alteration, customers can continue utilizing their rufiyaa debit cards within the USD 250 cap for general-use subscription services, international POS transactions, medical payments, and travel-related costs, excluding specific commercial sites where dollar transactions are now prohibited.
The bank stated that the choice was made to guarantee that as many clients as possible can obtain the allowance for their most vital needs. MIB also expressed regret for any trouble caused.
Besides MIB, BML has also recently lowered the dollar cap on rufiyaa cards.
The action has sparked considerable public backlash, as numerous customers indicate that BML rufiyaa cards often malfunction with subscription services and online purchases.