FSDF FUNDING FOR FINANCIAL INDUSTRY COMPETENCY STANDARDS (FICS) ACCREDITED TRAINING & ASSESSMENT PROGRAMMES

In light of the current economic downturn, the Monetary Authority of Singapore (MAS) has enhanced the funding support for FICS accredited programmes to encourage continued investment in training and development.

For financial institutions that send their staff for external FICS accredited training and/or assessment programmes, MAS has increased the funding support for training and assessment fees from 70% to 90%. Funding support is also made available to financial institutions that develop in-house FICS accredited programmes.

For individuals who are not sponsored by financial institutions and who pay for their own training and/or assessment, MAS will similarly provide 90% grant support when they attend and complete FICS accredited programmes. The funding support described above will apply to FICS accredited programmes that commence between 1 January 2009 and 31 December 2010.