The Bank of Maldives (BML) has formalised a strategic partnership with the Maldives Ocean Plastics Alliance (MOPA), a move aimed at expanding the nation’s recycling infrastructure and advancing sustainable plastic management. The agreement, part of BML’s ENV POS programme, underscores a growing commitment to environmental resilience across the country.
Central to the partnership is the development of a new facility within MOPA’s existing Material Recovery Facility in Hulhumalé Phase II. Supported by BML, the installation will feature PET plastic grinders capable of converting discarded plastic bottles into granules. These granules are intended for export to recycling centres in India and Malaysia, linking the Maldives to a wider regional network of waste recovery.
“We are proud to partner with MOPA as part of our ENV POS initiative,” said Mohamed Shareef, Chief Executive Officer and Managing Director of BML. “By supporting the development of local recycling capacity and enabling exports to regional facilities, we are contributing to a more sustainable future for the Maldives and demonstrating how collaboration can drive meaningful environmental impact.”
The initiative has been welcomed by MOPA’s leadership. Ahmed Maumoon, president of the organisation, described the agreement as a significant milestone in national recycling efforts. He noted that the new facility would play a vital role in transforming large volumes of plastic waste into usable raw materials.
BML’s ENV POS programme reflects a broader strategy to promote environmental responsibility through everyday financial transactions. Customers contribute to sustainability simply by using ENV POS terminals, with no additional cost to themselves or merchants.
In addition to its work with MOPA, BML has extended support to Parley Maldives, facilitating the export of plastic waste to recycling destinations in Germany, Taiwan and Malaysia. These efforts form part of the Parley AIR strategy, further embedding the bank’s role in global environmental advocacy.