Telegraphic Transfer
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BusinessBML fails to resolve USD transfer and TT issues despite deadline
The Bank of Maldives has failed to resolve ongoing US Dollar transfer and Telegraphic Transfer issues despite a self-imposed one-week deadline. Businesses continue to report significant financial losses as transaction delays persist. The bank previously tightened card limits to manage a dollar shortage, but services have yet to return to normal.
BusinessBusinesses face challenges in securing dollar support from BML
Bank of Maldives has notified businesses that dollar support for transfers is now strictly subject to availability. Importers face automatic cancellations if accounts lack full invoice amounts, as the bank struggles with a severe foreign exchange shortage. Business owners report receiving zero support and no prior notice of these changes.
Business
Dollar transfers will return to normal within next week: BML
Business
BML TT delays threaten businesses and international trade ties
Business
BML admits challenges in processing TTs due to USD shortage
Business
Businesses face losses as TTs through BML take weeks to process
News
"TTs and card transactions failing despite increased limits"
News
Enforcement alone cannot fix USD crisis, warns economic expert
Business
BML boosts USD supply for TTs for three weeks
Business