he initiative is designed to process tonnes of PET plastic waste collected from Hulhumale’. These granules will be exported to established recycling facilities in India and Malaysia.
BML
Bank of Maldives has announced a strategic partnership with the Maldives Ocean Plastics Alliance (MOPA) under its ENV POS initiative. This collaboration aims to bolster sustainable recycling practices and address plastic waste management in the Maldives.
Under this partnership, an annex to MOPA’s existing Material Recovery Facility will be established in Hulhumale’ Phase 2. The facility will be equipped with heavy-duty PET grinders to efficiently convert plastic bottles into granules to export to established recycling facilities in India and Malaysia. The initiative is designed to process tonnes of PET plastic waste collected from Hulhumale’. These granules will be exported to established recycling facilities in India and Malaysia.
Commenting on the partnership, BML CEO and Managing Director Mohamed Shareef stated, “We are proud to partner with MOPA as part of our ENV POS initiative. 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.”
Speaking on the partnership, the President of MOPA, Ahmed Maumoon commented, “This partnership with Bank of Maldives is a critical step forward for our national 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.”
ENV POS initiative is BML’s long term commitment to driving positive environmental change while providing customers to contribute towards a greener future simply by using ENV POS terminals in their everyday transactions - at no cost to the customer or the merchant.
Under this initiative, BML has also supported Parley Maldives in its efforts to export plastic waste for recycling to Germany, Taiwan and Malaysia as part of the Parley AIR strategy.
