Nov 26, 2020
The Monetary Authority of Singapore (MAS) and the Institute of Banking and Finance (IBF) announced today additional measures to support and strengthen the development of workers in the financial services sector. They also launched the “Growing Timber” series of webinars and events to provide a forum for key manpower issues in the financial services sector to be discussed.
For media queries, please contact:
Bridgitte LeeAssistant Director, Communications, MASDID: 6229 9262Email:
Janis SooSenior Manager, Communications and Engagement, IBFDID: 6508 7625Email:
 The SkillsFuture Work-Study Degree Programme (WSDeg) is a programme that allows students to gain meaningful work experience and acquire work-relevant skills, which help students better transit to the workplace upon graduation. WSDeg achieves this by closely integrating classroom learning with structured on-the-job training. These programmes involve companies and universities co-designing and co-delivering curricula that closely interconnect theory and practice, as well as co-assessing students’ performance at the workplace. For more information on WSDeg, please visit:
 For courses that commence between 8 April 2020 and 31 December 2020, and complete no later than 31 March 2021.
 For courses that commence between 1 January 2021 to 30 June 2021, and complete no later than 30 September 2021.
 Besides the TAG and IBF Credit, MAS announced the enhancement of course fees subsidies for courses under IBF-Standards Training Scheme (IBF-STS) and Financial Training Scheme (FTS) from 50%-70% to 90%, subject to funding caps of $7,000 and $2,000 respectively. Please see details:
 Eligible FinTech firms must be certified by the Singapore FinTech Association (SFA).
 Training participation increased 65% to reach 31,000 in April to September 2020, as compared to the same period last year.