Enhanced Funding Support for IBF-STS / IBF Credit / Training Allowance Grant
MAS has rolled out enhance course fee subsidies for locals attending accredited or recognised courses up to 90%. IBF will provide an additional 5% in support in the form of IBF Credit, bringing the course fee subsidy up to 95%. This existing scheme will also be expanded to include workers in eligible FinTech firms.
The Training Allowance Grant is part of MAS’ support package to encourage financial institutions and FinTech employers to make use of the downtime in business activity, to train and deepen the capabilities of their employees such that the workforce can be in a position of strength when the economy recovers. Locals, even those outside of the financial and FinTech sectors can also use their personal time to attend accredited courses that are relevant for the financial sector.