Subscription payments for commonly used services are excluded from recent restrictions placed on Maldivian Rufiyaa cards for foreign e-commerce websites, the Bank of Maldives announced.
The financial institution recently capped individual transactions on certain international e-commerce platforms to 30 per month, whilst establishing a strict daily spending limit for the entire nation. Driven by a broader national US dollar shortage, the restrictive measure prompted public complaints from individuals experiencing a sudden inability to process routine subscription payments.
Subscription payments will not be included within the daily foreign spend limit, and such payments have not been prohibited, the bank conveyed in a statement published on the social media platform X. The institution noted, however, that some subscription payments are being declined by merchants due to various reasons. "We are proactively attending to subscription payments that have been declined for various reasons," the bank said in its social media post.
These complications are currently being actively investigated, the bank declared, encouraging customers to contact the institution directly if a transaction fails. "If your subscription payment has declined, please contact us directly, and we will immediately provide the appropriate solution," the bank urged.
During a press conference held at the President's Office on 1 June, President Dr Mohamed Muizzu announced that the Bank of Maldives provided indications that significant relief regarding these banking limits will be introduced starting from the end of this month.