BML, Home Ministry and Mastercard partner to drive digital transformation

In a significant move toward advancing the nation’s digital landscape, Bank of Maldives (BML), in collaboration with the Ministry of Homeland Security and Technology, through the National Centre for Information Technology (NCIT), and Mastercard, announced the official launch of the Maldives Digital Partnership Program on Sunday.

The five-year strategic initiative aims to accelerate the Maldives’ digital transformation by strengthening digital infrastructure and expanding nationwide access to secure, efficient digital services. Aligned with the government’s vision of building a digitally empowered nation, the program marks a major step in fostering innovation and connectivity across the country.

The country’s national bank revealed that the collaboration marks a significant step forward in building a resilient, inclusive, and future-ready digital economy for the Maldives.

Commenting on the initiative, CEO and Managing Director of BML, Mohamed Shareef expressed pride in collaborating with Mastercard and NCIT on what he described to be a transformative journey for the Maldives.

This program represents a significant step towards creating a more inclusive, secure and digitally advanced society. By combining local expertise with Mastercard’s global technology capabilities, we’re confident in our ability to build a strong digital foundation for the nation’s future.”

Mohamed Shareef, BML CEO and MD.

Dr. Mohamed Kinaanath, Minister of State for Homeland Security and Technology and Head of the National Centre for Information Technology (NCIT), emphasized the significance of the collaboration, expressing joy in having partnered with Mastercard and BML on the Maldives Digital Partnership Program.

The Maldives is currently undergoing a momentous digital transformation journey through Maldives 2.0, spearheaded by President Dr. Mohamed Muizzu’s vision to leverage technology for economic growth, transparency, better governance and enhanced citizen services.”

Dr. Mohamed Kinaanath, Minister of State for Homeland Security and Technology and the Head of NCIT.

Commenting on the partnership, Sandun Hapugoda, Country Manager for Sri Lanka and Maldives at Mastercard said that Mastercard recognizes the transformative power and economic potential of digital innovation and that they were proud to support the nation’s journey towards a digitally empowered future through the initiative.

Mastercard recognizes the transformative power and economic potential of digital innovation. Through the Maldives Digital Partnership Program, we are proud to support the nation’s journey towards a digitally empowered future—leveraging data and technology to deliver meaningful outcomes for the people and accelerate the growth of the digital economy.”

Sandun Hapugoda, Country Manager, Sri Lanka and Maldives, Mastercard

Key objectives of the Maldives Digital Partnership Program include the modernization of digital identity and payment systems to improve both accessibility and security across the country. The program also aims to strengthen national cybersecurity capabilities by adopting AI-powered solutions. A major focus will be the expansion of the digital payments ecosystem through the digitization of government services and other essential sectors.

In addition to this, the initiative will introduce advanced payment systems for public transportation, enhancing convenience and operational efficiency. To further support economic development, the program will leverage data analytics to deliver actionable insights, particularly within the tourism sector and other key industries.