Digital Partnership Program launched to enhance cybersecurity with AI integration

In a significant stride towards digital transformation, the Bank of Maldives (BML), National Center for Information Technology (NCIT), and Mastercard have collaboratively launched the 'Maldives Digital Partnership Program'. This five-year strategic initiative is poised to accelerate the nation's digital agenda, aligning with the government's vision for a digitally empowered Maldives.

The program's core objectives include fostering the development of a cutting-edge digital infrastructure and broadening access to secure and comprehensive digital services. 

Key areas of focus under this agreement encompass:

• Enhanced Security and Payment Modernization: Bolstering security measures and modernizing the digital identity and payment systems.

• AI-Powered Cybersecurity: Strengthening cybersecurity capabilities through the strategic integration of artificial intelligence.

• Digital Payment Expansion: Expanding the digital payment ecosystem and digitizing government services alongside other critical sectors.

• Transportation Payment System Modernization: Updating the payment systems employed within the transportation sector.

• Data Analytics for Economic Growth: Utilizing data analytics to generate actionable insights for the tourism industry and other sectors vital to economic growth.

BML has affirmed that this agreement marks a crucial step toward cultivating a robust, inclusive, and prosperous digital economy in the Maldives.

Mohamed Shareef, CEO and Managing Director of BML, expressed pride in the collaboration, stating, "BML is proud to be part of this effort with MasterCard and NCIT to bring about a revolutionary change in Maldives." He further added, "This program will help build a more inclusive, safe and digitally enabled society. MasterCard's international-class capabilities combined with Maldivian skill and expertise will provide a strong foundation for the country's future."

Dr. Mohamed Kinaanath, Head of NCIT, conveyed his satisfaction in partnering with Mastercard and BML for this initiative. He highlighted, "In line with President Dr Mohamed Muizzu's vision, Maldives 2.0 is bringing digital transformation to the economy, establishing a transparent system and strengthening governance to provide a comprehensive service to the people."

Sandun Hapugoda, Country Manager for Maldives and Sri Lanka on behalf of Mastercard, also elaborated on the anticipated changes and benefits that the program is set to deliver.