The Bank of Maldives (BML), working with the Ministry of Homeland Security and Technology through the National Centre for Information Technology (NCIT) and Mastercard, has introduced the Maldives Digital Partnership Program, a five-year initiative designed to advance the nation’s digital transformation.

According to BML, the programme supports the Government’s vision of establishing a digitally empowered Maldives. Building on this objective, the plan will concentrate on modernising the country’s digital infrastructure while extending access to secure and efficient digital services for both citizens and businesses. In doing so, it seeks to create a more connected, inclusive and accessible digital environment across the islands.

To achieve these ambitions, the initiative will focus on several priorities. These include modernising digital identity and payment systems to improve accessibility and security, enhancing cybersecurity through artificial intelligence, and expanding the digital payments network by digitising government services and other vital sectors. It will also introduce advanced payment systems for public transportation to improve convenience and efficiency, while making use of data analytics to generate insights that support the tourism industry and other important areas of the economy.

Speaking on the launch, BML Chief Executive Officer and Managing Director Mohamed Shareef said the collaboration brings together local expertise and Mastercard’s global technology capabilities to establish a strong foundation for the nation’s digital future. He added that the programme represents an important advance towards creating a more inclusive, secure and technologically advanced society.

Minister of State for Homeland Security and Technology and Head of NCIT Dr Mohamed Kinaanath explained that the programme aligns with the Maldives 2.0 agenda, led by President Dr Mohamed Muizzu. He noted that this vision aims to harness technology to drive economic growth, improve transparency, enhance governance and deliver improved services to citizens.

In support of this vision, Mastercard’s Country Manager for Sri Lanka and the Maldives, Sandun Hapugoda, said the company recognises the economic potential of digital innovation and remains committed to supporting the Maldives in its progression towards a digitally empowered future. He noted that the partnership will leverage data and technology to provide tangible benefits for the population while contributing to the growth of the digital economy.

BML, the Ministry and Mastercard have described the initiative as a significant advancement in developing a resilient and future-ready digital economy for the Maldives, combining public and private sector resources to deliver on national development objectives.