The BML Student Portal 2024 – ongoing

The Bank of Maldives (BML) has launched the BML Student Portal to facilitate the registered overseas Maldivian students’ access to increased monthly foreign transaction limit of up to USD 1,200 starting from November 2024. Students can register through the portal by providing the necessary information and documents, including a copy of the passport, valid student visa, a university’s enrolment letter including personal details, the course of study, and the study duration. The approval process is expected to be completed within one business day and students can monitor their application status through the portal and the BML Mobile App. This initiative was launched to address the financial restrictions previously faced by Maldivians studying abroad as their debit allowance was limited to only USD 1,000 due to US dollar shortage in the Maldives.