Foreign currency through online trade deposited to Rufiyaa accounts

A customer withdraws money from a BML USD ATM. (Photo/BML)

Bank of Maldives has decided to deposit foreign currency obtained through foreign online trading platforms through Maldivian Rufiyaa accounts of customers which means that customers can withdraw the money as Maldivian Rufiyaa.

BML said that money sent through digital wallets from foreign platforms and sent via Visa Direct and Mastercard Send will be deposited to Maldivian Rufiyaa accounts of customers.

These platforms are usually used by individuals to obtain foreign currency such as US Dollars. The change means that customers will still be able to withdraw the money deposited to their accounts, however, as Maldivian Rufiyaa.