The Bank of Maldives (BML) says it expects US dollar transactions to return to normal by the end of next week after it has taken measures to control the transactions.
In a statement yesterday, BML said that the increase in dollar outflows has led to delays in completing dollar transactions, including telegraphic transfers (TTs) and interbank transfers, over the past two weeks.
It also said that in order to responsibly and sustainably manage the bank’s dollar receipts and dollar expenditures, the bank has recently begun to limit its e-commerce transactions and prioritize transactions that are urgent and essential.
BML said that these measures have now helped to keep the amount of dollars out of the bank in line with the amount of dollars received by the bank.
The Bank said that it expects dollar transactions to return to normal by the end of next week and that it would inform its customers through official channels once it happens.
BML assured that the bank places top priority on facilitating sustainable transactions and giving priority to essential cash transactions.
