Apr 08, 2020
MAS' has announced a S$90 million support package for the financial and FinTech sectors in training their workforce as well as to defray manpower costs during the economic contraction caused by COVID-19.
The support package includes:
a. Enhanced Course Fee Subsidy and Expansion of Training Scheme to Eligible FinTech firm and Single-Family Officesb. New Training Allowance Grant (TAG)c. Doubling of monthly salary support under the Finance Associate Management Scheme (FAMS)
IBF will provide an additional 5% "IBF Credit" on top of the Enhanced Course Fee Subsidy during this period until the end of 2020.
The support in brief as follows:
Course fee subsidies for IBF-STS programmes raised to 90% until 31 December 2021
Financial Institutions can also apply for their in-house programmes to be recognised as an IBF-STS or FTS programme.
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(Last updated: 4 May 2020)
To find out further details on the new enhancements, please visit the respective IBF STS or FTS pages.