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BML ramps up TT dollar support, surpasses 2024 total in 8 months

Business
Ahmed Shurau

Bank of Maldives (BML) has significantly increased its dollar support for business telegraphic transfers (TTs) this year compared to 2024.

According to the bank, businesses received a total of USD 69 million in support throughout 2024, with 5–10% of the requested amounts being allocated.

In contrast, from January to August 2025 alone, BML has already provided USD 73 million—exceeding last year’s total in just eight months. The allocation for businesses has also been increased to 30–50% of requested amounts.

The bank said this change reflects its commitment to easing foreign currency pressures and supporting local businesses in meeting their overseas payment obligations.

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