What is the IBF Standards Training Scheme?
The IBF Standards Training Scheme ("IBF-STS") provides funding for training and assessment programmes accredited under the Skills Framework for Financial Services.
Funding Quantum
IBF-STS provides 70% funding for direct training costs subject to cap of S$7,000 per participant per programme. Direct training cost would be based on the gross programme fee charged by the external training provider or apportioned basic salaries of internal staff involved in developing and / or delivering in-house programmes.
Singapore Citizens aged
40 years old and above will be eligible for
90% co-funding of direct training costs, subject to existing grant caps of S$7,000 per programme. Singapore Permanent Residents will continue to be eligible for 70% co-funding of direct training costs for IBF-STS programmes.
Qualifying expenses include training costs incurred for both executive and non-executive staff, as well as staff employed on a short-term basis (less than one year, inclusive of contract staff and interns). Apportioned basic salaries of
full time in-house trainers involved in developing and/or delivering in-house programmes will also be eligible for support.
Eligible Programmes
A list of eligible IBF-STS external programmes can be found in the
Programme Finder.
If you are a Financial Training Provider or Financial Institution, click
here to find out how you can get your programmes IBF-STS accredited.
Eligible Participants
This scheme is eligible for
company-sponsored or
non-company sponsored participants who are Singapore Citizens or Singapore Permanent Residents, physically based in Singapore, and who have successfully completed an IBF-STS accredited programme.
Financial Institutions (MAS licensed or exempt entities), involved in or supporting financial sector activities, are eligible to submit claims for company-sponsored participants.
IBF-STS Accredited Training Providers will submit claims for Non Company-Sponsored participants upon programme completion.
Please refer to the
Information Note for further details on funding and eligibility criteria.
Submission of Claims
Click
here for information on claims submission.
