MALE’, Maldives — The Chinese ambassador to the Maldives, Kong Xianhua, quietly deleted a tweet acknowledging a controversial new policy by the Bank of Maldives (BML) that imposes a 30 percent fee on transactions made on Chinese e-commerce platforms. The policy, announced Monday, has sparked questions about BML’s prudent measures and the Maldives government’s mindfulness toward small traders earning from online sales, amid growing criticism of the bank’s decision.
The BML policy, effective July 1, 2025, raises the monthly limit for overseas debit card transactions to $500, a nod to growing consumer demand for international spending. But it also targets purchases on platforms like Temu, Shein, Alibaba, AliExpress, Lazada, and eBay with the hefty fee, citing misuse of personal debit cards for commercial purposes.
The bank’s chief operating officer, Mohammed Sharif, who is accompanying President Dr. Mohamed Muizzu on his state visit to Singapore, unveiled the changes, highlighting their importance.
In his now-deleted tweet, Ambassador Kong noted the BML announcement but offered no commentary. The reason for the deletion remains unclear.
The move has raised eyebrows, given China’s role as a major trading partner for the Maldives and the popularity of its e-commerce platforms among Maldivian consumers. The fee comes as the Maldives grapples with the economic fallout of booming online shopping.
Local businesses, particularly small retailers, have seen sales dwindle as consumers turn to affordable overseas platforms. The Maldives Post has struggled to keep up, expanding storage and hiring staff to manage a surge in parcel deliveries. The government, meanwhile, is losing an estimated 8 percent of goods and services tax revenue and up to 20 percent of import duties, as online purchases bypass traditional import channels.
BML’s policy aims to strike a balance. The $500 limit supports international spending, but the 30 percent fee discourages large-scale e-commerce purchases that strain the economy.
The bank also set a $125 monthly cap on overseas ATM withdrawals, with a $10 fee per transaction, to curb practices like handing debit cards to third parties for cash abroad.
Exemptions apply to hotel bookings, flight tickets, subscriptions, and U.S. dollar-linked debit cards or credit cards. Monthly limits now reset on the first of each month, offering clarity for users.
Photo of Chinese Ambassador to the Maldives H.E. Kong Xianhua with (Wadi) Ismail Abdulla.