Maldives Islamic Bank Signs MoU With Soneva Namoona to Support Sustainable Waste Management Project in R. Fainu

Maldives Islamic Bank (MIB) has signed a Memorandum of Understanding (MoU) with Soneva Namoona to support a Sustainable Waste Management Project in R. Fainu, extending a growing environmental partnership that is making a meaningful and measurable difference in island communities across the Maldives.

The collaboration between MIB and Soneva Namoona is not a new one. Since 2025, the two organisations have been working together on environmental initiatives, including a successful project in B. Goidhoo that laid a strong foundation for further island-level impact. Building on the momentum and lessons of that project, the partnership is now expanding its reach, with R. Fainu selected as the next project site in what promises to be a growing programme of sustainable environmental action across the atolls.

A Comprehensive Approach to Waste Management

The R. Fainu project will take a holistic and community-centred approach to strengthening local waste management practices through a carefully designed range of initiatives. These include a 7-day waste audit to establish baseline systems and identify key areas for improvement, the installation of essential waste management machinery alongside operational training for local users, and community engagement activities such as home composting workshops and "zero waste" sessions that empower residents to adopt more sustainable everyday habits.

The project will also include "Emmenah Engey Bodu Sirru" sessions, dedicated awareness programmes focused on menstrual and reproductive health, reflecting the project's broader commitment to community wellbeing beyond environmental sustainability alone.

A Reflection of MIB's CSR Commitment

The MoU and the project it enables reflect MIB's ongoing commitment to corporate social responsibility, channelling the bank's resources and partnerships into initiatives that empower communities, protect the environment, and support the sustainable development of the Maldives for future generations.