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In a major milestone for the nation's digital landscape, MINDCo and the Bank of Maldives (BML) have officially joined forces to launch the Maldives AI Lab. Announced as the National AI and Data Competency Centre, the facility serves as a flagship initiative under the country's broader "Maldives 2.0" Digital Transformation agenda.
The facility was officially inaugurated by the Minister of Homeland Security, Labour and Technology, Hon. Mr. Ali Ihusaan, during the high-profile opening ceremony of Co.Lab 26.
Co.Lab 26: Crafting the Sovereign AI Strategy
The launch marks the immediate commencement of the center's foundational operations, starting with Co.Lab 26—a dynamic four-day national programme. The event convenes government officials, private sector executives, tech experts, and independent developers to establish a unified national framework for artificial intelligence.
The agenda for the national summit is split into two distinct operational phases:
- Days 1 and 2: Participants are focusing on identifying and prioritizing critical AI use-cases. Evaluations are based on public value, strategic alignment, data readiness, feasibility, and ethics.
- Days 3 and 4: A mentored national hackathon will take place, featuring an Applied AI Track specialized for public sector use-cases and a Fintech Innovation Track powered directly by BML's Swipe API.
The hackathon is designed to yield tangible early-stage prototypes, clear solution pathways, and structured implementation concepts that can be funneled directly into a national delivery pipeline.
Shaping the Future of Public Service and Finance
During the opening ceremony, key stakeholders emphasized that local development is crucial to navigating the global tech evolution.
“Maldives cannot have a future where AI just happens to us," stated Minister Ali Ihusaan. "Through Maldives AI Lab it will happen with us, by us, for us.” The Minister underscored the importance of nurturing local technical talent, maintaining human accountability in public administration, and driving public-private partnerships to fortify economic resilience and transition into a secure, intelligent economy.
Highlighting the banking sector's role, BML CEO and Managing Director Mohamed Shareef noted the operational shifts ahead. "AI has the potential to improve how institutions understand customer needs, manage risks, deliver public services, detect fraud, strengthen cybersecurity, and make faster, more informed decisions," Shareef said. "For financial institutions, technology is no longer simply supporting operations—it is shaping the future of customer experience, accessibility, and economic participation."
MINDCo Managing Director Saeeda Umar added that the center marks a definitive pivot toward sustainable, nationwide infrastructure. "Establishment of this dedicated national center enables us to focus our efforts on building sovereign AI and data capabilities that are practical, culturally relevant, and aligned with local context," Umar remarked. "It moves us from scattered interest to a nationwide, structured delivery that will future-proof public investments, develop local talent, and improve the efficiency of public service delivery."
Registration Details
The Maldives AI Lab is intentionally structured to build enduring cross-sector capabilities in data science and digital innovation. Registration for the upcoming hackathon tracks is currently open to local tech talent, developers, and innovators. Interested parties can sign up and find more information by visiting the official event portal athttps://colab.mv/.
