The Bank of Maldives (BML) has rescinded its recent decision to restrict dollar services for debit cards tied to Rufiyaa accounts, pending a comprehensive review. The bank announced that it is re-evaluating the proposed changes to dollar transaction limits and will make a final determination following a meeting of its board members.

The reversal comes after significant public and customer feedback regarding the initial decision, which had halted international transactions on Rufiyaa-based debit cards and imposed stringent limits on gold credit card foreign transactions. The bank had previously cited a critical shortage of U.S. dollars and an imbalance between card usage and available foreign currency as the reasons for these restrictions.

BML’s decision to withdraw the changes means that the previously announced limits on dollar services will be temporarily suspended. The bank has indicated that further details on the revised policies will be made available only after the board’s meeting and subsequent deliberations.

In a statement, BML assured customers that it is committed to carefully reviewing the impact of the proposed changes and making a well-informed final decision. The bank’s management emphasized the importance of balancing customer needs with the constraints of the current economic environment.

The upcoming board meeting will be crucial in determining the future direction of the bank’s dollar service policies. The bank has promised to provide updates and more information once a final decision is reached.