Bank of Maldives Reaches Milestone with Record US$1.7 Billion in Foreign Currency Sales

The increase reflects BML's expanding support for customers requiring foreign currency for international card transactions, Telegraphic Transfers (TTs), overseas education, medical treatment, travel and business payments.

Mohamed Hilmy

12 July 2026, 07:28

The Bank of Maldives (BML) has achieved the highest level of foreign currency sales in its history, providing US$1.7 billion to customers over the last 30 months as demand for international payments continued to grow.

Figures released by the bank show that BML sold US$1.698 billion between January 2024 and June 2026, a 77% increase compared to the US$957 million sold during the previous 30-month period from July 2021 to December 2023.

Monthly foreign currency sales have also reached record levels. During the first six months of 2026, BML sold an average of US$80 million each month—almost four times the US$21 million monthly average recorded in 2021.

The bank also reported significant growth across key customer services, including international card spending, travel cash and TT payments, while continuing to increase support for students studying abroad and patients seeking medical treatment overseas.

The latest figures demonstrate BML's continued expansion of foreign currency availability, reinforcing its position as the Maldives' leading provider of foreign exchange services.

Bank of Maldives Reaches Milestone with Record US$1.7 Billion in Foreign Currency Sales

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