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

The establishment of the Centre reflects President Dr Muizzu’s strategic vision to harness artificial intelligence and data as key enablers of public sector efficiency, modern governance, and improved delivery of public services.

Envisioned as a shared national capability, the Centre will support Government institutions and major economic sectors in adopting AI-driven solutions that enhance service provision, strengthen operational efficiency, and promote evidence-based decision-making across the public sector.

The Centre will actively engage the local private sector, inviting participation in the co-creation of practical AI and data tools designed to address real-world public sector challenges. By collaborating with Maldivian technology firms, start-ups, and industry experts, the initiative aims to foster an innovation ecosystem that aligns technological adoption with national priorities, delivering solutions that are secure, scalable, and fit for public service delivery.

MINDCo will lead the establishment of the Centre, with BML joining as a strategic partner to support its development and early implementation. 

 Through this collaboration, BML will provide industry knowledge, practical insights, and proven digital capabilities to help shape solutions that strengthen public sector systems, improve efficiency, and enhance data-driven governance.

The partnership also supports the ongoing evolution of the Maldives’ financial and payments landscape, ensuring 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 seeks to accelerate the responsible adoption of emerging technologies within government institutions.

This collaboration reflects a shared commitment by MINDCo and BML to building national AI and data capabilities, nurturing 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 in April 2026, following a phased implementation approach.