Bank of Maldives (BML) says delays affecting dollar transactions handled through the bank are being resolved, and transactions should return to a normal state by the end of next week.
BML said it had sold a total of USD 653 million by the end of August 2026 — a 33.33 percent increase compared with last year. At that pace, the bank estimates dollar sales could reach about USD 1 billion by year-end.
With the share of dollars leaving the bank rising, telegraphic transfers (TT) and interbank transfers faced delays over the past two weeks. To manage the situation sustainably, BML recently limited e-commerce transactions and began prioritising essential and more necessary dealings.
Those steps helped keep the volume of dollars leaving the bank in line with what it receives, BML said. It stressed the current situation is a temporary mismatch between dollar demand and supply, not a weakness in the bank’s operations or balance sheet.
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