BML Sells USD 565 Million in 2025, Up 70 Percent Year-on-Year

According to the CEO, these changes have had a positive impact, benefiting the bank, businesses and the wider public by easing access to foreign currency.

Mohamed Hilmy

25 March 2026, 15:11

Bank of Maldives (BML) has recorded a significant increase in foreign currency sales, with CEO and Managing Director Mohamed Shareef revealing that the bank sold USD 565 million in 2025.

Speaking on PSM’s Raajje Miadhu programme, Shareef said the figure represents a 70 percent increase compared to the previous year, reflecting expanded access to foreign currency for both individuals and businesses.

He noted that recent changes to card limits were part of the bank’s efforts to better support customers with overseas transactions. In 2025, BML cards accounted for USD 524 million in foreign transactions, including ATM withdrawals, point-of-sale (POS) payments and e-commerce spending. This marks an increase of USD 200 million compared to the previous year.

Shareef also highlighted changes to telegraphic transfers (TTs), stating that the bank increased the allocation of US dollars from 5 percent to 50 percent, significantly improving access for customers.

According to the CEO, these changes have had a positive impact, benefiting the bank, businesses and the wider public by easing access to foreign currency and facilitating international transactions.

BML Sells USD 565 Million in 2025, Up 70 Percent Year-on-Year

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