Claims Submission for Self-Sponsored Individuals (CACS, CBCE & FMRP Exams)

CLAIM FORM

Please refer to "Submission of Claims" below on the supporting documents that have to be submitted to IBF after filling in the form.

​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.

Find out more here. 


Eligibility Criteria

The following industry examinations are IBF-STS accredited and they are eligible for the above- mentioned enhanced funding support:

  1. Client Advisor Competency Standards (CACS) Assessment comprising of:
    1. CACS Paper 1 - Legislation, Regulation Industry Codes of Practice,
    2. CACS Paper 2 - Industry & Product Knowledge

  2. Corporate Banking Common Examination (CBCE) comprising of:
    1. CBCE Paper 1 - Industry Product Knowledge and Awareness,
    2. CBCE Paper 2 - Industry Laws & Regulations Knowledge and Awareness

  3. Financial Markets Regulatory Practices (FMRP) Examination.

Other eligibility criteria are as follows:

  1. Completion or passing the examination;
  2. Self-sponsored individuals must be Singapore citizens or Singapore permanent residents;
  3. For individuals who are on the company-sponsored track, claims should be submitted by their employers; and
  4. Individuals on the self-sponsored track must not be MAS employees, civil or public servants.

Submission of Claims

To submit your IBF-STS grant claim/Enhanced Course Fee Subsidy/IBF Credit/ Training Allowance Grant, please prepare and submit the following documents via email to exams@ibf.org.sg

  1. click here to fill in the online form for IBF Funding Claim for Self-Sponsored Individuals; and 

  2. submit the following documents via email to exams@ibf.org.sg citing "Claim Submission : <<Name per NRIC>> - <<last 4 digits of NRIC including alphabet>> (e.g. Lim Meng Meng – 123A) as the subject header in the email to IBF:
    • A soft copy of your e-invoice(s) covering the relevant exam attempt / session; and .
    • A soft copy of your exam result slip(s), which can be downloaded from your IBF Portal Account.
All documents1 must be submitted in PDF format.

Claims Submission Deadline

Claims for the IBF-STS/ Enhanced Course Fee Subsidy/ IBF Credit/ Training Allowance Grant should be submitted to IBF (exams@ibf.org.sg) within the month of the completion of the exam2.

Claims submitted later than 1 month from the completion of the exam will not be accepted for the funding support.

Disbursement of Claims

The IBF has implemented PayNow as the payment mode for training grant claims since  January  2019. PayNow enables secure e-paymentswithout the need to collect and validate bank account details of the claimants. Please ensure you have linked your NRIC to your PayNow bank account. As disbursements of claims are only made to NRIC linked (and not mobile number linked) PayNow bank account, failure to do so will result in forfeiture of the approved funding.

For more information on the claims submission process, please contact IBF at exams@ibf.org.sg.

For more information on IBF funding criteria & eligibility, please contact IBF at funding@ibf.org.sg


Footnotes:
1 IBF reserves the rights to request for a copy of your NRIC for verification for verification checks.

2 For example, if an individual completes an IBF industry exam on 1 June 2020, he/she should submit the claim by 30 June 2020.