The Government’s Chief Spokesperson, Mohamed Hussain Shareef, has stated that the government has no connection to the recent changes introduced by the Bank of Maldives (BML) regarding the use of MVR cards for overseas e-commerce and online retail transactions.
Mohamed Hussain Shareef made the remarks amid claims by some parties alleging that BML had altered its dollar allocation policy due to liquidity pressures arising from large government debt repayments.
Speaking during the “Presser with the Spox” media briefing held at the President’s Office, the spokesperson addressed the changes announced by the bank.
He stated that the country relies heavily on BML for access to US dollars required for essential imports such as food, medicine, and fuel, as well as for Maldivian students studying overseas.
According to the spokesperson, no decisions have been made beyond measures aimed at increasing the availability of dollars for essential needs and preventing improper transactions conducted through bank cards. BML recently introduced a daily limit on the amount of US dollars sold for purchases made on certain overseas e-commerce websites through MVR accounts.
The spokesperson also noted that requests for TT (telegraphic transfer) transactions requiring US dollars must now be submitted during the bank’s official working hours.
Some parties have linked the changes introduced by BML to the government’s repayment of a USD 524 million sukuk on 2 April 2026, as well as a USD 400 million currency swap repayment to India made on 23 April. However, the government has denied the claims.
The government further reiterated that it is not facing any cash flow difficulties in meeting its debt obligations.