Bank of Maldives (BML) has signed an agreement with Parley Maldives to enhance efforts to protect the country’s marine environment under its newly launched environmental initiative, EnvPOS.

At a ceremony held today, BML CEO and Managing Director Mohamed Shareef signed on behalf of the bank, while Parley's Executive Director Shahina Ali signed for the environmental organization.

EnvPOS, launched on June 25, is an environmental protection program through which BML donates a portion of its revenue from card machine (POS) transactions toward marine conservation. The contribution is made by BML without passing any cost to customers or businesses.

Speaking at the signing, Shareef emphasized the growing threat plastic waste poses to the Maldivian marine ecosystem. He said the collaboration with Parley aims to reduce plastic use, protect marine life, and shift the future of manufacturing towards sustainability.

“We are very proud of the opportunity to work with Parley to help protect the seas, reduce plastic use, and change the future of manufacturing,” said Shareef.

As part of this partnership, BML also announced plans to produce its next generation of bank cards using Parley Ocean Plastic; a product made from plastic waste collected and exported from the Maldives.

Parley's Executive Director Shahina Ali expressed confidence in the partnership's impact. “This collaboration will strengthen the movement towards a sustainable, net-zero future for the Maldives,” she said.

BML noted that customers using EnvPOS card machines would directly contribute to environmental protection efforts. The bank reaffirmed its long-term commitment to sustainability, stating that the initiative will help preserve the Maldives’ fragile ecosystem for future generations.

With nationwide banking coverage, digital banking, and ATM services, BML continues to play a key role in shaping the country’s financial and environmental landscape.