Maldives Launches First-of-Its-Kind Environmental POS Initiative
Maldives Launches Environmental Banking Initiative | Photo: BML
A new environmentally-focused payment solution will be introduced in the Maldives, marking a first in the country’s banking sector.
The Bank of Maldives (BML) has announced the launch of the ENV POS, an initiative through which a portion of the bank’s earnings from every transaction made via its Point of Sale (POS) terminals will be allocated to fund environmental projects across the country. This contribution will be made at no additional cost to customers or merchants.
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Effective from 1 July 2025, each card payment made through ENV POS terminals will directly support efforts to protect the Maldives’ environment, including the safeguarding of its islands and oceans. According to BML, the initiative aims to promote a greener Maldives for future generations.
Based on current transaction volumes, the bank expects to contribute MVR 5.5 million annually through ENV POS. These funds are expected to increase as the number of transactions grows. The initiative will be delivered in partnership with non-governmental organisations and other stakeholders, focusing on sustainable efforts such as recycling, reforestation, and waste management.
BML emphasised that this is a long-term commitment rather than a one-off campaign and forms part of its wider strategy to support communities, promote economic growth, and drive sustainable development across the country.
