Bank of Maldives partners with MOPA to strengthen plastic recycling efforts
Bank of Maldives (BML) has entered into a strategic partnership with the Maldives Ocean Plastics Alliance (MOPA) to advance sustainable plastic recycling under its ENV POS initiative.
As part of the collaboration, a new annex to MOPA’s existing Material Recovery Facility will be established in Hulhumalé Phase II.
The facility will feature heavy-duty PET grinders, enabling the efficient conversion of plastic bottles into granules for export to established recycling facilities in India and Malaysia.
The initiative aims to process large volumes of PET plastic waste collected from Hulhumalé and transform it into raw materials for reuse.
BML CEO and Managing Director Mohamed Shareef said the partnership reflects the Bank’s commitment to environmental sustainability.
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
BML CEO and Managing Director Mohamed Shareef stated
MOPA President Ahmed Maumoon emphasized the national significance of the project.
This partnership with Bank of Maldives is a critical step forward for our recycling efforts. By establishing this new facility, we’re directly tackling a significant volume of plastic waste, turning it into valuable raw materials and creating a more efficient system
MOPA President Ahmed Maumoon stated
The initiative is part of BML’s wider ENV POS program, which allows customers to support environmental projects by using ENV POS terminals in daily transactions without any added cost to customers or merchants.
BML has previously partnered with Parley Maldives, supporting the export of plastic waste to recycling hubs in Germany, Taiwan, and Malaysia under the Parley AIR strategy.
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