BML Environmental Protection Initiative: Annual MVR 5.5 Mil on conservation efforts

The Maldives national bank – Bank of Maldives (BML) – has announced efforts to inject MVR 5.5 million annually towards environmental and marine protection efforts.

In a statement, BML highlighted the country’s acute vulnerability to climate change impacts and emphasized the critical need to advance environmental protection initiatives to ensure a sustainable legacy for future generations.

The bank further stressed the importance of individual and institutional-level efforts on conservation. BML recently unveiled its ENV Point-Of-Sale (POS) machines, which would be utilized towards environmental preservation efforts.

At the ceremony held to launch the new ENV POS terminals, the bank’s Chief Executive Officer and Managing Director Mohamed Shareef said the bank is expected to contribute MVR 5.5 million annually through the new environmentally inclined POS terminals.

“This is not a one-off campaign but a long-term, sustained effort that will scale with our customers’ support. Today, I call on every individual to make your everyday purchase a force for good. Whether you are buying groceries or paying for a meal – chose to pay with BML to make a real, measurable difference,” he added.

As part of the bank’s ongoing efforts towards environmental and marine conservation, BML recently announced a strategic partnership with Parley Maldives for ocean conservation, which falls under the ENV POS initiative.

Under this initiative, for every transaction made through a BML POS terminal, the bank will set aside a contribution from its earnings to fund environmental initiatives across the country at no cost to the customer or the merchant. BML added that this initiative is aimed at directly contributing to saving Maldives’ environment.

Through the ENV POS, the national bank is expected to support Parley in its efforts to export plastic waste for recycling to Germany, Taiwan and Malaysia as part of Parley AIR strategy “Avoid. Intercept. Redesign.”

BML noted the existence of more than 8,000 merchants adding the enhanced accessibility to its customers from anywhere across the Maldives.

“Let us all participate in directly contributing to the protection of marine life on which the country’s delicate environment and economy heavily depend on,” BML said in the statement.