The Bank of Maldives (BML) decision to charge a 30 percent fee on each payment from popular shopping sites has enraged the public.
The list of sites to be subject to the 30 percent fee includes Temu, Shein, Alibaba, Ali Express, Lazada and eBay.
People took to social media platforms on Monday to express their frustration, with some accusing the national bank of favoring big businesses.
"It was done to keep the people poor because the politicians' businesses are collapsing," one person said in a Facebook post.
Others said the decision was taken to prevent the expansion of small businesses and stop people from purchasing goods at more affordable rates.
There were social media users who pointed out that the transactions through BML debit cards will now have to be done at the black market rate for dollars.
"This is very clearly a scam. Why did the bank indirectly fix the dollar rate? A dollar at the bank rate is MVR 15.42. But when the so-called 30 percent is charged, a dollar rate is MVR 20. What's happening here? The bank is selling dollars higher rate than the black market rate," said a Facebook account.
In a social media post, BML defended its decision despite the public backlash.
"The changes announced today are to prioritise the requirements of the wider community," it stated.
The national bank earlier noted that foreign transactions with these sites were a reason for the dollar shortage in the bank.
Meanwhile, the People's Majlis on Tuesday rejected an emergency motion expressing concern over the bank's decision.
The motion was proposed by Kendhoo MP Mauroof Zakir from the opposition Maldivian Democratic Party (MDP).
Eleven MPs voted in favor of accepting the motion while 29 MPs from the ruling People's National Congress (PNC) voted against.
