MINDCo, Bank of Maldives partner to establish AI centre
Maldives Innovation and Digital Company (MINDCo) and Bank of Maldives (BML) have signed a Memorandum of Understanding (MoU) 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 establishment of the AI and Data Competency Centre reflects President Dr. Mohamed Muizzu’s strategic vision to harness artificial intelligence and data as core enablers of public sector efficiency, modern governance and improved public service delivery.
The AI and Data Competency Centre is envisioned as a shared national capability to support government institutions and key economic sectors in adopting AI-enabled solutions that improve service delivery, enhance operational efficiency, and strengthen evidence-based decision making across the public sector.
The centre will engage and invite local private sector participation 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 centre will foster a co-creation ecosystem that aligns innovation, new technology adoption, national priorities and delivers solutions that are scalable, secure and fit for public service delivery.
MINDCo will lead the establishment of the Centre, with Bank of Maldives joining as a strategic partner to support its development and early implementation. BML’s partnership reflects its commitment to advancing the country’s digital and financial ecosystem and supporting national efforts to modernize public sector service delivery.
As the country’s leading financial institution, BML brings extensive experience in digital payments, financial technology, and the application of data and artificial intelligence at scale. Through this collaboration, BML will contribute industry expertise, practical insights, and proven digital capabilities to help shape solutions that strengthen public sector systems, improve service efficiency, and enhance data-driven decision-making across government institutions.
The partnership also supports the continued evolution of the Maldives’ financial and payments landscape, enabling closer alignment between public sector digital transformation 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 Centre aims to accelerate the responsible adoption of emerging technologies within the public sector.
This collaboration reflects a shared commitment by MINDCo and BML to building national AI and data capabilities, developing a future-ready workforce, and ensuring that investments in digital transformation deliver 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.
