Maldives Islamic Bank Partners with Soneva Namoona for Fainu Waste Management Project

Maldives Islamic Bank (MIB) has entered into a formal partnership with Soneva Namoona to implement a Sustainable Waste Management Project on the island of Fainu in Raa Atoll. The collaboration, solidified through a Memorandum of Understanding (MoU), aims to establish robust environmental practices within the local community. This initiative builds upon a pre-existing partnership between MIB and Soneva Namoona that began in 2025. The two organizations previously collaborated on a successful environmental project in Goidhoo, Baa Atoll, providing a blueprint for the current expansion into Fainu. By scaling these efforts, the partners intend to replicate proven sustainability models across various atolls in the archipelago. The project in Fainu will begin with a comprehensive seven-day waste audit designed to establish baseline systems and identify specific community needs. Following the audit, the initiative will focus on the installation of essential waste management machinery, accompanied by rigorous operational training for local users to ensure long-term viability. Community empowerment is a central pillar of the program. Residents will participate in "zero waste" workshops and home composting sessions to reduce the volume of refuse sent to landfills. In a holistic approach to community wellbeing, the project will also incorporate educational sessions focused on menstrual and reproductive health, addressing critical social needs alongside environmental goals. MIB stated that this initiative is a reflection of its broader corporate social responsibility strategy. By investing in these grassroots projects, the bank seeks to empower island communities and foster sustainable environmental development across the Maldives, ensuring that local ecosystems are protected for future generations.