The Bank of Maldives oversaw an unprecedented expansion in foreign exchange liquidity over the past year, disbursing a total of USD 672.5 million to its clientele as demand for hard currency reached record heights. Institutional data indicates that the bank’s daily allocation averaged USD 1.84 million, marking a 70 per cent surge in foreign currency distributions compared to the previous fiscal year.
This surge in dispersal reached across the nation’s economic strata, spanning both the commercial sector and private citizens. Throughout 2025, the bank facilitated USD 175 million in direct dollar sales to businesses, with small and medium-sized enterprises securing a primary share of USD 104 million. At the individual level, the bank processed USD 390 million for personal use, a figure driven largely by debit and credit card transactions.
Support for international mobility and religious observance remained a cornerstone of this distributive strategy. The institution sold USD 98.5 million to Maldivian citizens for overseas travel, with an additional USD 9 million earmarked specifically for pilgrims undertaking the Umrah. Bank representatives noted that this financial growth enabled a systemic raising of card limits, providing critical assistance for education, medical treatments, and commercial operations.
Beyond retail transactions, the bank supplied up to 50 per cent of the requirements for telegraphic transfers, a stark shift from the 5 to 10 per cent support offered in 2024. By the close of the year, the volume of dollars sold for such transfers had quadrupled, a development officials highlighted as a pivotal advancement in operational capacity.