MINDCo and Bank of Maldives launch Maldives AI Lab
MINDCo and Bank of Maldives (BML) have jointly launched the Maldives AI Lab, the National AI and Data Competency Centre, as a key initiative under the Maldives 2.0 Digital Transformation agenda.
Maldives AI Lab was officially launched during the opening ceremony of Co.Lab 26 by the Minister of Homeland Security, Labour and Technology, Ali Ihusaan.
Marking the official launch of the Maldives AI Lab, the centre’s foundational initiatives will commence today with the start of Co.Lab 26. Co.Lab 26 is a four-day national programme bringing together government leaders, private sector, technical experts, and developers to shape the national approach to artificial intelligence. The first two days focus on identifying and prioritising AI use-cases based on public value, strategic alignment, data readiness, feasibility, and responsible use. Days three and four feature a mentored hackathon comprising an Applied AI Track for government use-cases and a Fintech Innovation Track powered by BML’s Swipe API.
Speaking at the opening ceremony, the BML CEO and Managing Director Mohamed Shareef stated: “AI has the potential to improve how institutions understand customer needs, manage risks, deliver public services, detect fraud, strengthen cybersecurity, and make faster, more informed decisions. For financial institutions, technology is no longer simply supporting operations—it is shaping the future of customer experience, accessibility, and economic participation.”
MINDCo Managing Director Saeeda Umar commented, “Establishment of this dedicated national centre enables us to focus our efforts on building sovereign AI and data capabilities that are practical, culturally relevant, and aligned with local context. It moves us from scattered interest to a nationwide, structured delivery that will future-proof public investments, develop local talent, and improve the efficiency of public service delivery.”
In his speech, the Minister of Homeland Security, Labour and Technology, Ali Ihusaan stated that, “Maldives cannot have a future where AI just happens to us. Through Maldives AI Lab it will happen with us, by us, for us.” He also emphasised developing local tech talent, ensuring human accountability in public services, and fostering public-private partnerships to improve government efficiency, boost economic resilience, and transition the Maldives into a secure, intelligent economy.
Maldives AI Lab is designed to build lasting national capability in AI, data, and digital innovation through cross-sector collaboration. Hackathon outputs will include early-stage prototypes, solution pathways, and implementation concepts progressed through a structured national delivery pipeline.
Interested parties may register for the hackathon here.
