MIB Limits Dollar Spending on E-commerce Sites to Prioritize Essential Needs

Maldives Islamic Bank (MIB) has restricted US dollar transactions on specific e-commerce websites for customers using rufiyaa-denominated debit cards. The move aims to preserve the sustainability of the bank's dollar limit and ensure it remains available for essential expenses. Under current policy, MIB provides a USD 250 limit on rufiyaa cards to help customers manage necessary international payments. However, the bank reported that some users have recently been utilizing this facility for non-essential purposes, prompting a strategic shift in how the limit is applied. As a result of this decision, customers are now limited to a maximum of 10 transactions on e-commerce websites. The bank has implemented these restrictions to prevent the misuse of the facility and to allow a broader range of customers to benefit from the service. Despite the new restrictions on certain commercial websites, MIB confirmed that the USD 250 limit remains fully accessible for critical spending. This includes healthcare-related expenses, travel costs, and purchases made via point-of-sale (POS) terminals when traveling outside the Maldives. Additionally, the bank stated that commonly used subscription services will not be affected by these new restrictions. By filtering out non-essential commercial spending, MIB intends to maintain a sustainable system that prioritizes the most urgent financial needs of its clientele.