MIB teams up with Soneva Namoona and Fainu Council to launch a community‑powered waste‑to‑resource project

Maldives Islamic Bank (MIB) has signed an agreement with Soneva Namoona and the R. Fainu Council to implement a sustainable waste management project on the island.

Since last year, MIB has been working with Soneva on environmental initiatives. A similar project was previously carried out in B. Goidhoo under the partnership.

MIB said the agreement signed on Tuesday will strengthen waste management practices in Fainu. A seven‑day waste audit will be conducted to establish a baseline for designing the system, the bank said. MIB will also install the required machinery for waste management and provide training on how to operate the equipment.

MIB signs MoU for the Sustainable Waste Management Project in R. Fainu, reinforcing its commitment to CSR by empowering local communities and promoting sustainable environmental practices. ???? pic.twitter.com/3moURvwiHk

— MaldivesIslamicBank (@mibmv) April 28, 2026

In addition, zero‑waste workshops will be held for Fainu residents, including sessions on producing vegetables using organic waste.

Awareness programmes on menstrual and reproductive health will also be conducted under the project.

According to the bank, the initiative is part of MIB’s corporate social responsibility efforts to empower communities and support sustainable environmental development.