MINDCo and Bank of Maldives Partner to Launch National AI and Data Competency Centre

Maldives Innovation and Digital Company (MINDCo) and Bank of Maldives (BML) have signed a Memorandum of Understanding (MoU) to jointly establish a national AI and Data Competency Centre, a flagship initiative under President Dr Mohamed Muizzu's Maldives 2.0 Digital Transformation agenda.

The Centre represents a cornerstone of President Dr Mohamed Muizzu's strategic vision to harness artificial intelligence and data as core enablers of public sector efficiency, modern governance, and improved service delivery for citizens across the Maldives.

Envisioned as a shared national capability, the AI and Data Competency Centre will 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 also actively invite and engage local private sector participation, bringing together Maldivian technology firms, startups, and industry experts to co-create practical AI and data tools that address real public sector challenges. This co-creation ecosystem is designed to ensure that solutions developed are scalable, secure, and fit for purpose in delivering public services.

Under the agreement, MINDCo will lead the establishment of the Centre, with Bank of Maldives serving as a strategic partner to support its development and early implementation. BML's involvement reflects the bank's deep commitment to advancing the country's digital and financial ecosystem and supporting national efforts to modernise public sector service delivery.

As the country's leading financial institution, BML brings to the table extensive experience in digital payments, financial technology, and the application of data and artificial intelligence at scale. Through the partnership, BML will contribute industry expertise, practical insights, and proven digital capabilities to help shape solutions that strengthen public sector systems, improve service efficiency, and advance data-driven decision making across government institutions.

The collaboration also supports the broader 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 expertise 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.

Together, MINDCo and BML share a commitment to building national AI and data capabilities, developing a future-ready workforce, and ensuring that investments in digital transformation deliver tangible and lasting 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.