bml travel card usd

Enter the world of limitless rewards. The BML Rewards loyalty program allows you to earn points when you use your card and gives you the flexibility to redeem your points for choices in travel, shopping and vouchers to name a few.

The entire reward redemption process is online, making it simple and convenient.

Earn Matrix Table:

You can earn BML Rewards points as below.

* The points are rounded down to the nearest whole number. Actual value might vary. ** Transactions in Foreign Currency

As a credit cardholder, you are automatically enrolled in the BML Rewards program. You can sign up to activate your BML Rewards account and access the features and functionalities available on the portal. You will receive an email with a system generated password and a link to the BML Rewards website. Follow the link to change your password. Once completed, you will be able to access your BML Rewards account with your new password. Once you’re registered, you can earn and redeem points easily for your everyday spending.

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BML urges travelers to book USD at least 8 hours prior to flight

Bank of Maldives has released a statement urging all travelers using BML’s online portal to purchase USD to do so at least 8 hours prior to their flight.

According to BML’s statement, the number of travelers are currently higher than usual due to school holidays, and so, booking in advance will ensure that travelers receive their USD without complications or delays. Travelers may pre-book dollars using the Bank’s convenient online portal and then collect their currency at the dedicated collection point at VIA Departure area near Gate 4.

Those who do not have online access can pay at any BML branch and then pick up their dollars at the airport. Passengers departing from other international airports within the country will be able to pick up their dollars from the BML branch located closest to that airport, and special support is available to elderly and disabled travelers at all times.

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BML Visa Classic

BML Visa Classic Debit Card brings its holders the convenience of cashless and online purchasing while tracking the payments and managing their expenses wisely.

BML VISA PLATINUM

BML Visa Platinum Debit Card empowers its cardholders to experience more for less, with the widest selection of deals and offers around. Our Cardholders are safe in the knowledge that BML is committed to offering them the most secure payment platform available. Holders of BML Visa Platinum benefit from the Online Purchase feature, and enjoy the “Pay wave Service” which is a secure and quick payment method, by which they simply ‘tap’ their card on a contactless Point-of-Sale (POS) terminal to make transactions rather than ‘swiping’ or ‘dipping’ their card into the POS terminals.

BML VISA INFINITE

Our prestigious clients holding a BML Visa Infinite card are sure to receive an exceptional service, with exceptional benefits. Holders of BML Visa Infinite enjoy the “Pay wave Service” which is a secure and quick payment method, by which they simply ‘tap’ their card on a contactless Point-of-Sale (POS) terminal to make transactions rather than ‘swiping’ or ‘dipping’ their card into the POS terminals.

BML VISA SIGNATURE

Holders of BML Visa Signature enjoy the “Pay wave Service” which is a secure and quick payment method, by which they simply ‘tap’ their card on a contactless Point-of-Sale (POS) terminal to make transactions rather than ‘swiping’ or ‘dipping’ their card into the POS terminals.

BML VISA PLATINUM USD

BML Visa Platinum USD card empowers its holders to experience more for less, with the widest selection of deals and offers around. Our Cardholders are safe in the knowledge that BML is committed to offering them the most secure payment platform available. Holders of BML Visa Platinum USD enjoy the “Pay wave Service” which is a secure and quick payment method, by which they simply ‘tap’ their card on a contactless Point-of-Sale (POS) terminal to make transactions rather than ‘swiping’ or ‘dipping’ their card into the POS terminals.

BML VISA PLATINUM EURO

Addressed to frequent flyers to Europe, the BML Visa Platinum EURO card empowers its holders to experience more for less, with the widest selection of deals and offers around. Our Cardholders are safe in the knowledge that BML is committed to offering them the most secure payment platform available. Holders of BML Visa Platinum EURO enjoy the “Pay wave Service” which is a secure and quick payment method, by which they simply ‘tap’ their card on a contactless Point-of-Sale (POS) terminal to make transactions rather than ‘swiping’ or ‘dipping’ their card into the POS terminals.

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GENERAL FEATURES

General Conditions 3 years  Pay wave feature  3D Secure

Monthly Interest Rate POS: 1.75% Cash: 2.00%

Annual Fee Euro 100

Supplementary Card Euro 50

Cash Transaction Fee Local (CSC): 1.5% minimum USD 3 Local (non CSC): 1.5% minimum USD 5 Abroad: 2% minimum USD 7

Grace Period Up to 40 days

CARD BENEFITS

• Download Visa Explore App for your access to hundreds of offers across dining, shopping, entertainment and travel.
• Download LoungeKey App and become a member of the LoungeKey program, which provides admission to over 1,000 airport lounges worldwide.

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IN CASE OF CARD THEFT OR LOSS, CONTACT 01738800

General Conditions 3 years Pay wave feature  3D Secure

Monthly Due Payment 5%, 10%, 25%, 50%, 100% (Minimum USD 50)

Maximum Limit Between USD 5,000 & USD 10,000

Annual Fee USD 150

Supplementary Card USD 75

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General Conditions 3 years

Maximum Limit Between USD 10,000 & USD 25,000

Annual Fee USD 200 (in Fresh Funds)

Supplementary Card USD 100 (in Fresh Funds)

Cash Transaction Fee Local (CSC): 1.5% minimum USD 3 Local (non CSC): 1.5% minimum USD 5 Outside Lebanon: 2% minimum USD 7

• Worldwide Acceptance
• Year-End Statement Summary
• Free SMS and Email Notification
• E-Statement
• Flexible Payment Methods
• 24/7 Helpdesk Assistance
• Pay wave feature 

Monthly Interest Rate   POS: 1.75% Cash: 2.00%

Maximum Limit Above USD 25,000

Annual Fee USD 300 (in Fresh Funds)

Supplementary Card USD 150 (in Fresh Funds)

Cash Transaction Fee Local (CSC): 1.5% minimum USD 3 Local (non CSC): 1.5% minimum USD 5 Outside Lebanon: 2% minimum USD 7

• Pay wave feature 

General Conditions 5 years Pay wave feature 3D Secure

Annual Fee LBP 700,000 USD 100 ( in Fresh Funds )

Supplementary Card LBP 700,000 USD 100 ( in Fresh Funds )

Cash Transaction Fee BML ATMs: Free CSC Network: USD 1 Other network: USD 3 Abroad: 2% – Minimum USD 7

BML VISA CLASSIC

Annual Fee LBP 400,000 USD 50 ( in Fresh Funds )

Supplementary Card LBP 400,000 USD 50 ( in Fresh Funds )

• Worldwide acceptance for online and POS purchases, in addition to ATMs
• Holders of the BML Visa Classic Debit Card can enjoy the “Pay wave Service” which is a secure and quick payment method, by which they simply ‘tap’ their card on a contactless Point-of-Sale (POS) terminal to make transactions rather than ‘swiping’ or ‘dipping’ their card into the POS terminals.
• SMS / E-mail Notification Service upon card usage

BML sets new limits for foreign transactions made using debit and credit cards

Bank of Maldives (BML) has announced new limits for foreign transactions made using the bank’s debit and credit cards. BML said the new limits have been set to control the outflow of US dollars from the Maldives amid the financial difficulties caused by the COVID-19 pandemic. In this regard, BML said separate limits have been set for customers in the Maldives and customers living overseas. For customers in the Maldives, BML has set a maximum limit of USD 250 per month for debit cards with a MVR primary account, and USD 3,000 per day for debit cards with a USD primary account. The credit card limit for foreign transactions made by customers in the Maldives has been set as USD 250 per month. For customers living overseas, BML has set a maximum limit of USD 750 per month for debit cards with a MVR primary account, and USD 3,000 per day for debit cards with a USD primary account. Credit card limit for overseas customers has been set as USD 750 per month. BML said the limits set for customers living overseas are combined limits for ATM, POS or online transactions. However, the bank said the limits do not apply to bookings made from the USD booking portal of the bank. The bank noted customers living in the Maldives can continue to withdraw up to USD 2,000 per month from USD ATMs, as the new limit does not apply to local ATM withdrawals. The national bank further noted medical and education payments through debit and credit cards can be made by applying for a temporary change to the card limit through BML Internet Banking. The bank said it will contact the customer within 24 hours after processing the request. The new limits have come amid a USD shortage caused by the loss of tourism income due to COVID-19. 80% of the USD income in the Maldives comes from tourism.

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BML card limit upped to USD 1,200 for overseas students

The Maldivian government has announced the decision to raise the monthly withdrawal limit on Bank of Maldives (BML) cards for Maldivian students overseas to USD 1,200.

In a press briefing on Monday morning, Abdulla Nazim Ibrahim, the principal secretary to the president on public policy, said the Cabinet decided on Sunday to increase the card limit on US dollar withdrawals for Maldivian students overseas to USD 1,200.

Nazim said that the plan to remove the limit will be carried out in phases.

Increasing the limit for Maldivian students overseas is the first phase, he said.

The change is effective starting February, next year.

“The Cabinet decided yesterday to increase [the withdrawal limit] on the card of students to USD 1,200 starting February 1,” said Nazim.

The removal of the bank USD withdrawal limit is one of President Dr. Mohamed Muizzu’s electoral pledges.

Nazim said that the Finance Ministry will be collaborating with the Maldives Monetary Authority (MMA) and BML to make necessary arrangements to implement the cabinet’s decision.

The limit on overseas card transactions is an issue of concern for Maldivian citizens who reside overseas. US dollar withdrawals via BML debit and credit cards had previously been limited to USD 750. The limit was imposed in response to a significant reduction in foreign currency inflow to the country due to the Covid-19 pandemic.

Source(s): sun.mv

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STO opens showroom in Hulhumale’

State Trading Organization (STO) has opened a showroom specialized for construction in Hulhumale’.

The showroom was inaugurated by Construction Minister Dr. Abdulla Muthalib during a special ceremony held on Tuesday night.

Speaking at the ceremony, STO’s Managing Director Shimad Ibrahim stressed the role of the company’s former managements and board members in carrying forward the company and therefore extended them gratitude.

Situated at the same location as STO’s Hulhumale’ shop – next to STO’s Smart Store near Hulhuamle’ Hospital – the construction solutions showroom was opened following renovations up to modern standards.

STO reports that all construction-related products sold by the company will be available at the showroom including some of the most renowned brands sold by the company; Makita tools, Nippon paint and concrete from prominent mix designing brands among others.

The state-owned company is prominent in the local construction industry as STO’s constructions solutions is the largest importer and seller of construction-related products in the Maldives.

STO noted that customers can now place orders for construction-related products including Makita tools and Nippon paint via the Hulhumale’ showroom which would eliminate the need to travel to Male’ to make the purchases. Arrangements have been made in the showroom to prepare the colors of Nippon paint ordered by the customers on demand.

Henceforth, they attributed the opening of the new showroom as something which would bring easements to the lives of Hulhumale’ residents and construction industry partners operating in the suburb.

Economy thrives, projects speed ahead despite challenges

Before President Dr. Mohamed Muizzu assumed office, the economic condition of the Maldives was significantly deteriorating. Experts attribute the primary reason for the depreciation of the Maldivian currency to the excessive printing of money by the previous administration.

According to statistics from the Maldives Monetary Authority (MMA), more than USD 518.04 million was printed over the last three consecutive years, marking a historic high compared to USD 388.53 million printed over 40 years.

Additionally, upon assuming office, President Muizzu inherited a heavy debt burden. The total debt amounted to over USD 7.71 billion, with a significant portion owed to companies for upcoming parliamentary elections and previously initiated projects, totaling USD 584.88 million.

Despite these challenges, President Muizzu has been proactive in rejuvenating the Maldives’ economic status. Within three months of his tenure, USD 35 million has been deposited into the sovereign development fund. The President estimates that more than USD 100 million will be deposited into the fund by the end of the year.

discontinuation of printing money has been regarded as a pivotal step towards economic progression for the Maldives

President Muizzu’s commitment to revitalizing the Maldivian economy without resorting to the printing of money is indeed a significant pledge. By discontinuing the practice of printing money, the government aims to address economic challenges while ensuring fiscal responsibility and long-term sustainability.

The decision to immediately halt the printing of money upon assuming office underscores President Muizzu’s determination to prioritize sound monetary policy. This move reflects an acknowledgment of the risks associated with excessive money printing, including inflation and currency devaluation, and signals a commitment to addressing these challenges through prudent financial management.

Furthermore, President Muizzu’s plans to boost the country’s prosperity and income by reducing reliance on loans and settling debts owed to both foreign and domestic entities demonstrate a holistic approach to economic revitalization.

attracting a vast pool of investors

The efforts of the present administration to attract a wide range of investors reflect a strategic approach to addressing the significant development needs of the Maldives. By engaging in investment forums both domestically and abroad, the government has been successful in showcasing the diverse investment opportunities available in the country.

The decision to host investment forums in countries like China and the UAE demonstrates a proactive approach to international investment promotion. These forums serve as platforms for highlighting the potential for investment in key sectors such as infrastructure, tourism, and hospitality. By creating awareness about these opportunities, the government aims to attract investors who are interested in contributing to the development of critical projects, including the establishment of bridges, domestic airports, and resorts.

Over 500 projects underway

The continuation of 527 projects, including those that faced interruptions due to non-payment to companies during the government transition, underscores the commitment of President Muizzu’s administration to ensure continuity and progress in ongoing initiatives. Despite the challenges encountered, efforts have been made to address issues such as delayed payments and optimize project expenses to keep important projects on track.

It’s notable that the current year’s budget, initially approved by the prior administration, may not have fully aligned with President Muizzu’s priorities and rules for project implementation. This misalignment may have resulted in some projects not receiving adequate budget allocations or not being included in the budget at all. However, the administration has taken steps to optimize expenses and prioritize projects that align with President Muizzu’s vision for development

Initiatives to enhance economic growth and foster sustainable growth

The International Monetary Fund (IMF) has recognized President Muizzu’s initiatives as some of the strongest implementations seen among world leaders, emphasizing their potential for substantial progression. The IMF applauded the government’s decision not to overdraw the government’s account and expressed its readiness to provide any assistance needed. This endorsement from the IMF underscores the effectiveness of President Muizzu’s economic policies and strategies.

Additionally, the Maldives National Chamber of Commerce and Industries has voiced support for the government’s initiatives, recognizing them as favorable for the Maldivian future as a growing economy. Despite challenges such as a shortage of dollars for small businesses, the Chamber remains optimistic that the government’s decisive actions will lead to economic growth and stability in the value of the dollar.

The government has projected a 5.5 percent economic growth rate for this year, indicating confidence in the trajectory of the economy under President Muizzu’s leadership. Furthermore, President Muizzu revealed a significant reduction in the country’s primary debt balance, from USD 103.61 billion last year to USD 8.68 million in the current year. This reduction in debt, achieved within just four months, demonstrates the government’s commitment to fiscal responsibility and its ability to effectively manage the country’s finances.

Overall, these developments indicate that the government’s economic rejuvenation efforts have been successful, earning the confidence of global financial institutions in the Maldives’ future economic prospects.

Source(s): PsmNews

Council to issue 14 plots in Hanimaadhoo for tourism development

Haa Dhaalu atoll Hanimaadhoo island council has announced a 50-year lease on 14 plots from the island for tourism development purposes.

In the announcement put on gazette by the council, it has opened bid opportunity for interested bidders to lease the plots from Hanimaadhoo’s tourism zone.

The council has announced lease of 5,000 square feet plots for a 50-year lease period, for which interested proponents are required to register for the bids before 13:00hrs on April 30th, 2024.

For proponents wishing to mail the bid registration form, they can mail it to [email protected].

Proponents must furnish a bid registration, non-refundable, fee of MVR 1,000 for the 5,000 square feet plots. If proponents wish to acquire more than one plot, then they must pay MVR 1,000 per plot.

If the council annuls the announcement, it said the registration fees will be refunded to the proponents, and added the proponents will receive bid books upon registration.

Bid acceptance and opening are scheduled for April 30th, 2024 as well.

While the Hanimaadhoo International Airport is under an expansion project, the island has been putting efforts to increase its local tourism activities as well.

During his last month visit to Hanimaadhoo, President Dr. Mohamed Muizzu said the airport’s expansion will contribute towards increased tourism activity in the island.

He also said sustainable development cannot be achieved without individual development of key regions which include Hanimaadhoo as well.

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