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About The Institute of Banking & Finance (IBF)
IBF serves as an integrated service provider to boost opportunities for Singaporeans and finance professionals to access jobs and training programmes to deepen their capabilities in the financial services sector.
About IBF Standards Training Scheme (IBF-STS)
The IBF Standards Training Scheme (“IBF-STS”) provides funding for training and assessment courses:
- That cover key skills needed in the financial sector.
- Accredited under the Skills Framework for Financial Services (SFwFS).
This scheme is available for both self-sponsored and company-sponsored individuals.
Eligible Individuals |
- Singapore Citizens or Singapore Permanent Residents, physically based in Singapore; and
- Successfully completed IBF-STS accredited course (including passing all relevant assessments and examinations)
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Eligible Companies |
- Singapore-based Financial Institutions regulated by MAS (licensed or exempt from licensing by MAS)
- FinTech firms certified by Singapore FinTech Association (SFA)
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Streamlined Funding Support |
- Self-Sponsored and Company Sponsored Individuals
- Funding support for the same course will be granted only once per calendar year per participant.
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IBF-STS Funding Quantum
ELIGIBLE INDIVIDUALS[1] |
Singapore Citizens and PRs
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Singapore Citizens aged 40 years and above
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FUNDING AMOUNT FOR DIRECT TRAINING COSTS[2] |
50% (capped at S$3,000 per participant per course)
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70% (capped at S$3,000 per participant per course)
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[1] Individuals who (i) attend a course in the capacity of an instructor or facilitator, e.g. presenter / speaker / panelist, or (ii) civil servants are not eligible for IBF-STS funding.
[2] 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.
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For more information, please visit IBF-STS website.
For funding matters, please read our Terms and Conditions here.