Maldives Innovation and Digital Company (MINDCo) and Bank of Maldives (BML) have signed a Memorandum of Understanding to collaborate on the establishment of an AI and Data Competency Centre, a flagship national initiative under President Dr Mohamed Muizzu’s Maldives 2.0 Digital Transformation agenda. The partnership reflects a strategic national focus on positioning artificial intelligence and data as foundational enablers of modern governance, public sector efficiency, and improved service delivery across the Maldives.
The establishment of the AI and Data Competency Centre is aligned with the President’s vision to embed advanced digital capabilities at the heart of government operations, enabling institutions to make faster, smarter, and more evidence-based decisions. The Centre is envisioned as a shared national capability that will support government institutions and key economic sectors in adopting AI-enabled solutions that enhance operational performance, improve the quality and accessibility of public services, and strengthen data-driven policy formulation.
Designed as a collaborative platform, the Centre will actively engage the local private sector in co-creating practical AI and data tools that address real public sector challenges. Through structured collaboration with Maldivian technology firms, startups, and industry experts, the initiative aims to cultivate a vibrant co-creation ecosystem that connects innovation, emerging technologies, and national priorities. This approach is intended to ensure that developed solutions are scalable, secure, and purpose-built for public service delivery, while also supporting the growth of local digital enterprises.
MINDCo will lead the establishment and overall coordination of the AI and Data Competency Centre, with Bank of Maldives joining as a strategic partner to support its development and early implementation. BML’s participation underscores its commitment to strengthening the country’s digital and financial ecosystem and contributing meaningfully to national digital transformation efforts. As the Maldives’ leading financial institution, BML brings extensive experience in digital payments, financial technology, and the practical application of data and artificial intelligence at scale.
Through this collaboration, BML will provide industry expertise, operational insights, and proven digital capabilities to help shape solutions that modernize public sector systems, streamline service delivery, and enhance data-driven decision-making across government institutions. The partnership is also expected to support the continued evolution of the Maldives’ financial and payments landscape by fostering closer alignment between public sector digital initiatives and the country’s rapidly advancing digital financial infrastructure.
By leveraging BML’s experience in secure digital platforms, payment systems, and AI-enabled services, the AI and Data Competency Centre aims to accelerate the responsible and effective adoption of emerging technologies within the public sector. This will contribute to building strong national AI and data capabilities, developing a future-ready digital workforce, and ensuring that investments in digital transformation translate into tangible benefits for citizens, institutions, and the wider economy.
The AI and Data Competency Centre is expected to commence operations by April 2026, following a phased implementation approach that will gradually expand its scope and capabilities in line with national priorities. The collaboration between MINDCo and Bank of Maldives represents a significant step forward in the Maldives’ journey toward a digitally empowered, innovation-driven future.
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