The IBF Standards Training Scheme ("IBF-STS") provides funding for training and assessment programmes accredited under the Skills Framework for Financial Services.
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 IBF-STS accredited courses
AND(2) Training Allowance Grant for locals who participate in IBF-STS accredited 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. Self-sponsored individuals are also eligible for TAG to encourage them to invest time into skills upgrading.
How much support will I receive for a 2 week IBF-STS accredited Programme?
For self-sponsored individuals:
For Financial Institutions and FinTech Firms: