Maldives Islamic Bank (MIB) has signed a Memorandum of Understanding (MoU) to support the Sustainable Waste Management Project in Fainu, Raa Atoll, in collaboration with Soneva Namoona.
Since 2025, MIB has been working with Soneva Namoona on environmental initiatives, including a successful project in Goidhoo, Baa Atoll. Building on this progress, the partnership is now set to expand its impact on other islands and atolls, with Fainu selected as the next project site.
The project aims to strengthen local waste management practices through a range of initiatives, including a 7-day waste audit to establish baseline systems, installation and operational training for essential waste management machinery, and community engagement through home composting and “zero waste” workshops. It will also include sessions to raise awareness about menstrual and reproductive health.
MIB said this initiative reflects the bank's ongoing commitment to corporate social responsibility by empowering communities and supporting sustainable environmental development in the Maldives.