FTS Eligible

FTS Eligible

About FTS

This programme is recognised under the Financial Training Scheme (FTS) and is eligible for FTS claims subject to all eligibility criteria being met.

The Financial Training Scheme ("FTS") provides funding for financial sector-specific training programmes which are recognized under FTS.

The enhanced course fee subsidies are part of MAS’ support package to sustain and strengthen capabilities in the financial services and FinTech sectors amid the current economic slump. This will help to position financial institutions (FIs) and FinTech firms for stronger growth when the threat of COVID-19 recedes and economic activity normalises.

The enhanced course fee subsidies will apply to IBF recognised courses that commence on or after 8 April 2020, up to 31 December 2021, and are completed no later than 31 March 2022.

Thumbnail
Thumbnail
Who is Eligible?

Company-Sponsored participants are required to be

  • Only company-sponsored individuals; and
  • Singapore Citizens or Singapore Permanent Residents, physically based in Singapore; and
  • Successfully completed FTS recognised  programme
Thumbnail
What it covers?
  • Funding support to 90% of direct training cost* for all Singapore Citizen and Permanent Residents
  • IBF will provide an additional 5% in support in the form of IBF Credit, bringing the course fee subsidy up to 95%.
  • Delegates have to pay only 5% of course fee

* Direct training cost would be based on the programme fee charged by the external training provider or apportioned basic salaries of internal staff involved in developing and/ or delivering in-house programmes.

How much do I have to pay and how to claim the fee subsidies?

Delegates have to pay only 5% of course fee.

For instance, if the ticket is USD 1,000, the payable amount of your ticket is USD 50 (GST-free). Your firm does not have to pay upfront for the full amount and claim the subsidy from IBF Singapore.

Ticket Price  FTS funding (90%)  IBF Credit (5%) Your firm will be sponsoring
USD 1,000 USD 900 USD 50 USD 50

 

For enhanced course fee subsidies, the training provider will submit the claim form.

Disclaimer

Please note that in no way does this represent an endorsement of the quality of the training provider and programme. Participants are advised to assess the suitability of the programme and its relevance to participants’ business activities or job roles.

The FTS is available to eligible entities based on the prevalent funding eligibility, quantum and caps. FTS claims may only be made for recognised programmes with specified validity period.

Please refer to www.ibf.org.sg for more information.

* The above information was taken from the IBF website - https://www.ibf.org.sg/programmes/Pages/IBF-FTS.aspx