Bank of Maldives (BML) has said that a fake press statement is being circulated in their name, claiming that the bank has decided on further reductions to foreign transaction limits.

Regarding the statement, BML said that an official statement has not been made on bringing any new changes to foreign transaction limits. They further added that if any such decisions are being made, communications with their customers will be open from them.

The fake press statement notes that BML will change foreign transaction limits to USD 150, effective from January 17th.

Due to the decrease in economic activity, BML had previously put a limit of foreign transactions, capping them at a maximum of USD 250. However, cardholders living abroad are still able to use until a limit of USD 750.