The Bank of Maldives (BML) has increased its fees for rufiyaa and US dollar accounts starting from last Thursday (January 1), reports Haveeru.
The national bank is reported to have increased the minimum amount of money to be held in the accounts from MVR100 to MVR200 in rufiyaa accounts, and from US$10 to US$50 in dollar accounts.
According to Haveeru, a new schedule of charges released by BML states that current and savings accounts are now opened with a fee of MVR200, while dollar accounts are opened with a fee of US$50.
In addition, BML is to charge inactive rufiyaa accounts with MVR30 per month while charging US$3 from dollar accounts.
Haveeru also reported that the bank has decided to charge MVR5 for transactions under MVR10,000 at bank counters while charging US$1 for transactions under US$640.
Source: Haveeru
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Please increase the interest for the loans from 12% to 20%.
Then, the ribaa alone can hike up your salaries again.