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

The FSDF provides grant support for FICS training and assessment programmes under the FICS Training Scheme (FICS-TS) to enhance the skills and capabilities of Singapore 's financial sector workforce through FICS accredited programmes.

With the recovery of the economy, the FICS grant support level is brought back to the original level of 70% for training and/or assessment programmes accredited under the FICS framework.

With effect from 1 January 2011, MAS will provide 70% grant support for financial institutions that send their staff for external FICS accredited training and/or assessment programmes as well as for individuals who are not sponsored by financial institutions and who pay for their own training and/or assessment. Funding support is also made available to financial institutions that develop in-house FICS accredited programmes.

The funding support described above will apply to FICS accredited programmes that commence on or after 1 January 2011.