The Maldives Islamic Bank (MIB) has announced that its MVR cards will now be limited to a maximum of 10 transactions on e-commerce websites.

MIB said the existing USD 250 monthly limit on MVR cards was introduced to meet customers' essential needs. However, some customers have recently been using the limit for other purposes.

The bank said the change was introduced to ensure the USD 250 allowance remains available for essential spending by as many customers as possible.

MIB clarified that the USD 250 limit can still be used for subscription services, transactions through overseas point-of-sale (POS) machines, medical expenses and travel-related spending.

According to the bank, the new restriction applies only to e-commerce transactions, which are now capped at 10 transactions per card.