Enhanced Training Support

Tab1:Individuals,Tab2:Financial Institutions,Tab3:FinTech Firms,Tab4:Training Providers

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Apr 08, 2020

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MAS announced a S$90 million support package for the Financial and FinTech sectors in training their workforce, as well as to encourage individuals to invest in their training during the economic contraction caused by COVID-19.

The support is as follows:

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Under this enhanced training support package, self-sponsored individuals can enjoy:

1	Course Fee Subsidies for IBF-STS Programmes	-	Up to 90% until 31 December 2021
		-	Additional IBF Credit of 5% to offset course fee until 31 December 2020
			(Note: Grant cap per participant per course: S$7,000)
2	Training Allowance Grant (TAG)		S$10 per hour for completing IBF-STS accredited courses

Eligibility

- Singapore Citizens or Singapore Permanent Residents, physically based in Singapore

- Successfully completed IBF-STS recognised programme

How do I claim?

For Course Fee Subsidies	Self-sponsored individuals only pay nett course fees for IBF-STS programmes
For Training Allowance Grant (TAG)	Self-sponsored individuals need not submit an application. Claims will be submitted by the training provider IBF will credit the TAG to your NRIC-linked PayNow bank account. Please ensure you have linked your NRIC to your PayNow account to facilitate disbursement by IBF

Get started on your learning Journey

Find STS Training Programmes to enhance your skillsets

Need more info?

FAQs for individuals

Contact Us

For any clarification, please contact us at certification@ibf.org.sg

Enhanced Training Support

Under this enhanced training support package, Financial Institutions can enjoy:

1	Course Fee Subsidies for IBF-STS and FTS Programmes	-	Up to 90% until 31 December 2021
		-	Additional IBF Credit of 5% to offset course fee until 31 December 2020
			(Note: Grant cap per employee per course: -S$7,000 for IBF-STS, -S$2,000 for FTS )
		-	Company-sponsored individuals (SC/PRs) pay nett course fees
2	Training Allowance Grant (TAG)	-	FIs receive S$15 per training hour after employees complete training in IBF recognised courses
3.	Finance Associate Management Scheme	-	Doubled support in monthly salary grant for Finance Associate Management Scheme by MAS

Eligibility

Singapore-based financial institutions regulated by MAS (licensed or exempt from licensing by MAS)

Click here for details on IBF-STS and FTS funding criteria

Submission of Claims

For details on the claims submission process, please click here

Build up your Talent Pool

Find IBF-STS Training Programmes

Find FTS Training Programmes

Need more info?

	FAQs for Financial Institutions and FinTech Firms
	Briefing Slides on Enhanced Funding Support for Financial Institutions

Contact Us

For any clarification, please contact us at standards@ibf.org.sg

Enhanced Training Support

Under this enhanced training support package, FinTech Firms can enjoy:

1	Course Fee Subsidies for IBF-STS and FTS Programmes	-	Up to 90% until 31 December 2021
		-	Additional IBF Credit of 5% to offset course fee until 31 December 2020
			(Note: Grant cap per employee per course: -S$7,000 for IBF-STS, -S$2,000 for FTS )
		-	Company-sponsored individuals (SC/PRs) pay nett course fees
2	Training Allowance Grant (TAG)	-	FinTech Firms can receive S$15 per tranining hour after employees complete training in IBF recognised courses

Eligibility

FiinTech firms certifed by Singapore FinTech Association.

Click here for details on IBF-STS and FTS funding criteria.

Submission of Claims

For details on the claims submission process, please click here.

Build up your Talent Pool

Find IBF-STS Training Programmes

Find FTS Training Programmes

Need more info?

FAQs for FinTech Firms and Financial Institutions

Contact Us

For any clarification, please contact us at standards@ibf.org.sg

Enhanced Training Support

The support for qualifying training programmes for this period include:

Additional Funding Quantum	-	Raised funding support to 90% of direct training cost for all Singapore Citizen and Permanent Residents subject to prevailing grant caps for IBF STS and FTS courses
Additional Funding Quantum	-	IBF to provide 5% course fee support – IBF Credit
Training Allowance Grant	-	$10 for self-sponsored Individuals and $15 to eligible sponsoring Institutions

Click here for details on IBF-STS and FTS funding criteria.

Find out how to get your training programme recognised by IBF.

Eligible Programmes

Find IBF-STS Training Programmes

Find FTS Training Programmes

Claims Submission Process
Click here for details on the claim submission process.

Need more info?

FAQ for Training Providers
(Last updated: 12 June 2020)

Briefing Slides for Training Providers
(Last updated: April 2020)

Guidelines on the Conduct and Marketing of IBF-STS or FTS Courses

IBF seeks the support and co-operation of our training providers in our effort to upskill our workforce.

Please comply with these Guidelines on the Conduct and Marketing of IBF-STS or FTS courses.

Contact Us

For any clarification, please contact IBF at:

standards@ibf.org.sg	For accredited programme under the IBF Standards Training Scheme
fts@ibf.org.sg	For recognised programme under the Financial Training Scheme or Core FAA/SFA CPD

Institute of Banking and Finance

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FAQ

Enhanced Training Support

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Enhanced Training Support

Eligibility

How do I claim?

​Get started on your learning Journey

Need more info?

Contact Us

Enhanced Training Support

Eligibility

Submission of Claims

​Build up your Talent Pool

Find IBF-STS Training Programmes

Need more info?

Contact Us

Enhanced Training Support

Eligibility

Submission of Claims

Build up your Talent Pool

Need more info?

Contact Us

Find out how to get your training programme recognised by IBF.

​Eligible Programmes

​Need more info?

Guidelines on the Conduct and Marketing of IBF-STS or FTS Courses

Contact Us

Institute of Banking and Finance

Get started on your learning Journey

Build up your Talent Pool

Eligible Programmes

Need more info?