BML introduces USD credit card and credit card loyalty rewards program 

30 Oct 2021

BML introduces USD credit card and credit card loyalty rewards program 

This Tuesday, Bank of Maldives Plc (BML) introduced credit cards with restriction-less USD interactions. The very next day on Wednesday, the company also went on to introduce a first-of-its kind credit card loyalty program. 

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Recent Covid-19 imposed economic chokeholds had led the bank to place restrictions on the amounts of foreign purchases made every month. BML card holders  residing in Maldives had a limit of 250 USD per month while card holders abroad could spend 750 USD per month. These restrictions are still in effect. While only USD can be used to pay off the cards, customers can carry out foreign transactions without restrictions as per the card's pre-approved limit. BML has stated that the company believes that this card will be very helpful for customers dealing with large amounts of foreign purchases. As such, businesses can also apply for a corporate version of this card. 
The BML loyalty rewards program was launched in collaboration with global 'loyalty solutions' company Giift currently operating within 55 nations. The points customers rack up with credit card purchases can be redeemed before "over 900 airlines and 650,000 hotels, car rentals and multiple gift cards from leading brands". Tim Sawyer, the company's CEO and Managing Director noted that this is "the first comprehensive loyalty program in the country".  

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