MINDCo and Bank of Maldives Officially Launch Maldives AI Lab as the Nation's Dedicated AI and Data Competency Centre

MINDCo and Bank of Maldives have jointly launched the Maldives AI Lab, the country's dedicated National AI and Data Competency Centre, marking a defining milestone in the Maldives' digital transformation journey under the ambitious Maldives 2.0 agenda.

The Maldives AI Lab was officially unveiled during the opening ceremony of Co.Lab 26 by the Minister of Homeland Security, Labour and Technology, Hon. Ali Ihusaan, signalling the government's firm commitment to building sovereign, homegrown artificial intelligence capabilities that serve the nation's people, institutions, and economy.

Co.Lab 26: Where the National AI Journey Begins

The launch of the Maldives AI Lab coincides with the commencement of Co.Lab 26, a four-day national programme that brings together government leaders, private sector representatives, technical experts, and developers to collectively shape the Maldives' national approach to artificial intelligence. The first two days of the programme are dedicated to 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 two distinct tracks: an Applied AI Track focused on government use-cases and a Fintech Innovation Track powered by BML's Swipe API. Interested participants may register at https://colab.mv/

Hackathon outputs are expected to include early-stage prototypes, solution pathways, and implementation concepts that will be progressed through a structured national delivery pipeline, ensuring that the ideas generated at Co.Lab 26 translate into real, scalable solutions for the public and private sectors alike.

BML's Vision for AI in Financial Services

Speaking at the opening ceremony, BML CEO and Managing Director Mohamed Shareef articulated the transformative potential of artificial intelligence for financial institutions and public services alike. "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," he said.

Building Sovereign National AI Capabilities

MINDCo Managing Director Saeeda Umar highlighted the significance of having a dedicated national centre to anchor the country's AI ambitions. "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," she said.

A Nation That Shapes Its Own AI Future

In a powerful address, Minister Ali Ihusaan captured the spirit of the initiative succinctly, stating, "Maldives cannot have a future where AI just happens to us. Through Maldives AI Lab it will happen with us, by us, for us." The Minister also emphasised the critical importance of developing local technology talent, ensuring human accountability in public services, and fostering public-private partnerships as the foundations for a more efficient government, a more resilient economy, and a secure, intelligent nation.

Maldives AI Lab is designed to build lasting national capability in AI, data, and digital innovation through broad cross-sector collaboration, positioning the Maldives as a forward-thinking nation that is not merely a consumer of global technology but an active and capable participant in shaping its own digital future.