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Institute of Banking and Finance (IBF) Financial Training Scheme (FTS)

Institute of Banking and Finance (IBF) Financial Training Scheme (FTS)

The FTS provides funding for financial sector-specific training programmes which are recognized under FTS. Only Singapore citizens and Permanent Residents (PR) are eligible for the FTS funding. 

Currently only the Prosci Change Management Certification Programme (in-person delivery) is approved under the FTS.

How to register

  1. Submit your interest in the form on this page

  2. Register yourself on the Prosci Change Management Certification Programme. Note to select payment option ‘payment via invoice’

  3.  An e-invoice will be sent to your email address with nett fees reflected, after deduction of funding amount. Payment must be made prior to the course commencement date for your seat to be officially confirmed

Interested? Complete the form below

Funding Quantum

(1) Enhanced Funding Support for IBF FTS Credit

IBF and MAS will 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.

  Enhanced Finding Support
Funding Quantum

For training programmes commencing 1 Jan 2023

  • Singapore Citizens and PRs: 30% capped at S$500 per participant per course

  • Singapore Citizens aged 40 years and above: 70% capped at S$500 per participant per course
Eligible Individuals #
  • Only company-sponsored individuals*; and 

  • Singapore Citizens or Singapore Permanent Residents, physically based in Singapore; and

  • Successfully completed FTS recognised programme (including passing all relevant assessments and examinations).

* Direct training cost would be based on the gross programme fee charged by the external training provider apportioned basic salaries of internal staff involved in developing and/or delivering in-house programmes. Qualifying expenses include training costs incurred for both executive and non-executive staff, as well as staff on a short-term basis(less than one year, inclusive of contracts staff and interns). Apportioned basic salaries of full time in-house trainers involved in developing and/or delivering in-house programmes will also be eligible for support.

# Individuals who attend a programme in the capacity of an instructor or facilitator. e.g. presenter / speaker / panellist are not eligible for FTS funding.

Include licensed representatives such as luxury agents, financial advisors, and remisiers supported by FI principle and General Insurance (GI )agents registered with the General Insurance Association (GIA) Agent Registration Board.

^SkillsFuture Credit: (SFC) cannot be used to co-fund the programme fees of company-sponsored training programmes.

 

Funding Illustration (For illustration purposes only)

Course Fee (SGD) 

$5,000

9% GST

$ 450

Funding Support (70%)- exclusive of GST (capped at $500)

$ 500

Total fee payable by company (SGD)

$ 5,450 - $ 500 = $ 4,950

 

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