Economic Minister Mohamed Saeed has said Bank of Maldives has resolved the obstacles that previously hindered online transactions and e-commerce.
Speaking at a press briefing, Saeed stated that difficulties caused by the dollar shortage in the e-commerce sector have been managed by the bank. He added that work is under way to restore full capacity for telegraphic transfers and foreign currency issuance as the government continues to meet large debt-repayment obligations.
The minister linked the earlier constraints to the need to settle an unusually large volume of dollar-denominated debt. He said the situation has improved to the point where online commercial activity should no longer face the same barriers.
Saeed also noted ongoing discussions with the business community on related regulatory and operational issues, including possible time restrictions on heavy vehicle movements in Male’.