MINDCo to Establish AI and Data Competency Centre with BML as Strategic Partner

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

The initiative reflects the President’s strategic vision to harness artificial intelligence and data as key enablers of public sector efficiency, modern governance, and improved service delivery. The Centre is envisioned as a shared national capability that will support government institutions and key economic sectors in adopting AI-enabled solutions, strengthening evidence-based decision-making, and enhancing operational performance.

The AI and Data Competency Centre will also promote strong collaboration with the local private sector, inviting technology firms, startups, and industry experts to co-create practical AI and data tools that address real public sector challenges. Through structured partnerships, the Centre aims to foster an innovation ecosystem aligned with national priorities, delivering scalable, secure, and fit-for-purpose solutions for public service delivery.

Under the agreement, Maldives Innovation and Digital Company (MINDCo) will lead the establishment of the Centre, while BML will serve as a strategic partner supporting its development and early implementation. The partnership highlights BML’s commitment to advancing the country’s digital and financial ecosystem and supporting national modernization efforts.

As the Maldives’ leading financial institution, BML brings extensive experience in digital payments, financial technology, and large-scale applications of data and artificial intelligence. Through the collaboration, the bank will contribute industry expertise, practical insights, and proven digital capabilities to help strengthen public sector systems and improve service efficiency.

The partnership is also expected to support the continued evolution of the nation’s financial and payments landscape by aligning public sector digital transformation initiatives with rapidly advancing digital financial infrastructure. 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 across government institutions.

Both MINDCo and BML emphasized that the collaboration reflects their shared commitment to building national AI and data capabilities, developing a future-ready workforce, and ensuring that digital transformation investments 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.