MINDCo and Bank of Maldives launch Maldives AI Lab

MINDCo and Bank of Maldives (BML) have jointly launched the Maldives AI Lab, the National AI and Data Competency Centre, as a key initiative under the Maldives 2.0 Digital Transformation agenda.

The Maldives AI Lab was officially launched during the opening ceremony of Co.Lab 26 by the Minister of Homeland Security, Labour and Technology, Ali Ihusaan.

The launch marks the beginning of the lab’s foundational initiatives, which will commence through Co.Lab 26 — a four-day national programme bringing together government leaders, private sector stakeholders, technical experts and developers to help shape the Maldives’ national approach to artificial intelligence.

According to organisers, the first two days of the programme focus on identifying and prioritising AI use-cases based on public value, strategic alignment, data readiness, feasibility and responsible use. The final two days feature a mentored hackathon consisting of an Applied AI Track for government use-cases and a Fintech Innovation Track powered by BML’s Swipe API.

Speaking at the opening ceremony, BML CEO and Managing Director Mohamed Shareef said artificial intelligence has the potential to transform how institutions operate and serve people.

“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,” he 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 described the establishment of the Maldives AI Lab as a major step towards building sovereign national capabilities in AI and data.

“The establishment of this dedicated national centre enables us to focus our efforts on building sovereign AI and data capabilities that are practical, culturally relevant and aligned with local context,” she said.

“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.”

Addressing the ceremony, Minister Ali Ihusaan stressed the importance of ensuring the Maldives plays an active role in shaping its own AI future.

“Maldives cannot have a future where AI just happens to us. Through Maldives AI Lab it will happen with us, by us, for us,” he said.

He also highlighted the importance of developing local technology talent, maintaining human accountability in public services, and strengthening public-private partnerships to improve government efficiency, enhance economic resilience and support the transition towards a secure, intelligent economy.

According to organisers, the Maldives AI Lab is designed to build long-term national capability in artificial intelligence, data and digital innovation through cross-sector collaboration. Outputs from the hackathon are expected to include early-stage prototypes, solution pathways and implementation concepts that will move through a structured national delivery pipeline.

Interested participants may register for the hackathon through Co.Lab 26.