Bank of Maldives shocked customers when it announced a massive 30% fee on shopping websites. The new charge hits people who use local currency cards on international sites starting July 1st. Chinese shopping apps like Temu and Shein face the biggest impact from this surprise move. Bank officials say customers spend seven million dollars every month just on Temu alone. The fee targets three mystery platforms that the bank refuses to name publicly.
People who use US dollar accounts dodge the new charges completely. Credit card users also escape the hefty penalty that hits regular debit card holders. Hotel bookings and flight tickets remain safe from the controversial fee structure. The bank claims this move protects against currency shortages across the island nation. Former government official Riyaz Mohamed explains that US dollars have become extremely scarce.
Chinese Ambassador Kong Xianhua posted a tweet about the news but quickly deleted it. The diplomat appeared caught off guard by the sudden announcement from banking authorities. Bank leaders defend their decision as necessary protection against economic pressures. They blame rising global costs and supply chain problems for forcing this drastic action. The move targets Chinese e-commerce giants that flood the market with cheap goods.
Other South Asian countries already restrict Chinese online shopping platforms through various methods. India blocks direct imports from Chinese sites since 2020 but people still buy through local marketplaces. Bangladesh and Pakistan see millions of users purchasing Chinese products through different channels. The Maldives joins this regional trend of controlling foreign currency outflows.
People who use US dollar accounts dodge the new charges completely. Credit card users also escape the hefty penalty that hits regular debit card holders. Hotel bookings and flight tickets remain safe from the controversial fee structure. The bank claims this move protects against currency shortages across the island nation. Former government official Riyaz Mohamed explains that US dollars have become extremely scarce.
Chinese Ambassador Kong Xianhua posted a tweet about the news but quickly deleted it. The diplomat appeared caught off guard by the sudden announcement from banking authorities. Bank leaders defend their decision as necessary protection against economic pressures. They blame rising global costs and supply chain problems for forcing this drastic action. The move targets Chinese e-commerce giants that flood the market with cheap goods.
Other South Asian countries already restrict Chinese online shopping platforms through various methods. India blocks direct imports from Chinese sites since 2020 but people still buy through local marketplaces. Bangladesh and Pakistan see millions of users purchasing Chinese products through different channels. The Maldives joins this regional trend of controlling foreign currency outflows.
