OVERVIEW
IBF Standard training schemes (IBF-STS)
The IBF Standards Training Scheme (IBF-STS) offers funding for training and assessment courses that equip individuals with key skills in the financial sector, as outlined in the Skills Framework for Financial Services (SFwFS). This scheme is open to both self-sponsored individuals and those sponsored by their companies, providing opportunities for professional development and growth.
eLIGIBILITY
Empowering Individuals, Financial Institutions,
and Undergraduate Students
Singapore Citizens or PR
Singapore Citizens or Singapore Permanent Residents, physically based in Singapore.
completed IBF-STS accredited course
Successfully completed IBF-STS accredited course (including passing all relevant assessments and examinations)
Funding of training programmes Criteria
Funding of training programmes under the Critical Core Skills[1] and Future-Enabled Skills[2] categories will only be available to locals employed in the financial sector (i.e. by financial institutions or Singapore FinTech Association certified firms).
Singapore Citizens or PR
Singapore Citizens or Singapore Permanent Residents, physically based in Singapore.
completed IBF-STS accredited course
Successfully completed IBF-STS accredited course (including passing all relevant assessments and examinations)
Funding of training programmes Criteria
Funding of training programmes under the Critical Core Skills[1] and Future-Enabled Skills[2] categories will only be available to locals employed in the financial sector (i.e. by financial institutions or Singapore FinTech Association certified firms).
Funding Quantum
IBF Standard training schemes funding quantam
Funding support for the same course will be granted only once per calendar year per participant.
TRAINING COURSES |
Commencing on 01 Jan 2023 | |
|
ELIGIBLE INDIVIDUALS |
Singapore Citizens and PRs | Singapore Citizens aged 40 years and above |
|
FUNDING AMOUNT FOR DIRECT TRAINING COSTS |
50% capped at S$3,000 per participant per course |
70% capped at S$3,000 per participant per course |
Find Eligible IBF Training Programmes
Explore IBF-accredited courses and training programmes that qualify for funding support. Use the IBF Programme Finder to discover programmes aligned with your skills and career goals.
[1] Critical Core Skills are common, transferable skills that enable individuals to be employable and employed, facilitate their career mobility, and enable the acquisition of Technical Skills and Competencies relevant for job roles in the sector. Examples include creative thinking, problem solving, and communication. For more information, please refer to SkillsFuture Singapore's website here.
[2] Future-Enabled Skills are skills that will complement existing functional and technical skills required across various job functions. Examples include agility, data storytelling, and content generation strategies. For more information, please refer to the IBF website here.
[3] Entities regulated by the Monetary Authority of Singapore (either licensed, approved, registered or recognised; or exempted from being licensed, approved, registered or recognised), as listed on the MAS FI Directory.
[4] Individuals who attend a course in the capacity of an instructor or facilitator, e.g. presenter / speaker / panelist are not eligible for IBF-STS funding.
[5] Direct training cost would be based on the gross course fee charged by the external training provider or apportioned basic salaries of internal staff involved in developing and/ or delivering in-house courses. 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 courses will also be eligible for support.