IBF Standards Training Scheme (“IBF-STS”)
The IBF Standards Training Scheme (“IBF-STS”) provides funding for training and assessment programmes accredited under the Skills Framework for Financial Services.
MAS will enhance course fee subsidies for locals attending accredited or recognised courses up to 90% of direct training cost*. 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.
Available for training programmes commencing between 8 April 2020 and 31 December 2021 (both dates inclusive).
Advanced disbursement of course fees subsidies available for training programmes commencing between 8 April 2020 and 31 December 2020 (both dates inclusive).
• Company-sponsored individuals or self-sponsored participants
• Singapore Citizens or Singapore Permanent Residents, physically based in Singapore
• Successfully completed IBF-STS recognised programme.
Companies eligible to submit claims for company-sponsored participants
• Singapore-based financial Institutions regulated by MAS (licensed or exempt from licensing by MAS)
• FinTech firms certified by Singapore FinTech Association