MINDCo and BML Partner to Launch AI and Data Competency Centre

Business

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

The Centre aims to harness artificial intelligence and data to enhance public sector efficiency, modernise governance, and improve delivery of public services. It will support Government institutions and key economic sectors in adopting AI-driven solutions for operational efficiency and evidence-based decision-making.

The initiative will actively involve the local private sector, including technology firms, start-ups, and industry experts, in co-creating practical AI and data tools for real-world public sector challenges. MINDCo will lead the establishment, while BML will provide strategic support, sharing industry knowledge, digital capabilities, and expertise in secure payment systems.

The partnership also aligns with the evolution of the Maldives’ digital financial infrastructure, ensuring that government digital transformation initiatives complement advances in the national financial sector.

The AI and Data Competency Centre is expected to commence operations in April 2026, with a phased implementation approach, fostering national AI capabilities and supporting a future-ready workforce.