The Financial Training Scheme ("FTS") provides funding for financial sector-specific training programmes which are recognized under FTS.
In light of the economic challenges arising from COVID-19, MAS announced support of up to S$90 million, to encourage financial institutions and individuals to make use of the downtime for training and deepening of skills.
These include:(1) Enhancements of course fee subsidies for FTS courses
AND(2) Training Allowance Grant for locals who participate in FTS courses
The Training Allowance Grant (TAG) aims to help Financial Institutions and FinTech firms manage manpower costs and support the skills upgrade of their employees.