BML and MOPA collaborate on plastic recycling project

BML and Maldives Ocean Plastics Alliance (MOPA) have signed a strategic agreement under BML's ENV POS initiative.

The aim of the agreement is to improve Maldives' recycling efforts and to manage plastic in an environmentally friendly manner. An additional MOPA Material Recovery Facility is to be built alongside their existing one in Hulhumale' Phase 2 under the agreement. They will also bring together PET plastic grinders and turn plastic bottles into granules, subsequently exporting them to recycling facilities in India and Malaysia.

BML CEO and Managing Director Mohamed Shareef has stated that getting the opportunity to work together with MOPA brings joy to the bank.

"By increasing Maldives' ability to recycle plastic and facilitating ways to export to other facilities, we are showing that positive and environmentally beneficial changes can be brought to establish a sustainable future for Maldives," said Shareef.

MOPA President Ahmed Maumoon has said that the agreement with BML is a great boon to MOPA's nation-wide recycling efforts. And with the establishment of the new facility, useful raw materials can be converted with plastic, waste management efforts can begin and a sustainable system can be brought about.

With every swipe from BML's ENV card machine, a portion of each transaction will go towards the projects that protect Maldivian environments. Customers and businesses don't have to spend extra on the program. Customers who conduct transactions via the ENV POS machines can directly contribute to the protection of Maldives' vulnerable environment and its marine life for generations to come.

Under the program, BML has also helped Parley Maldives' Parley AIR Strategy, where they export plastic to Germany, Taiwan and Malaysia.