IBF Standards Training Scheme (IBF-STS)
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 and are accredited under the Skills Framework for Financial Services (SFwFS). This scheme supports both self-sponsored and company-sponsored individuals in enhancing their professional competencies.
Eligibility
Individuals
- Singapore Citizens or Singapore Permanent Residents, physically based in Singapore.
- Successfully completed an IBF-STS accredited course, including passing all relevant assessments and examinations.
- For Critical Core Skills and Future-Enabled Skills categories, individuals must be employed in the financial sector by financial institutions or Singapore FinTech Association certified firms.
Companies
- Financial Institutions based in Singapore, regulated by the Monetary Authority of Singapore.
- FinTech firms certified by the Singapore FinTech Association (SFA).
Funding Quantum
Funding is available for training courses commencing on or after 1 January 2023:
| Eligible Individuals | Funding Amount for Direct Training Costs |
|---|---|
| Singapore Citizens and PRs | 50% capped at S$3,000 per participant per course |
| Singapore Citizens aged 40 years and above | 70% capped at S$3,000 per participant per course |
Note: Funding support for the same course is granted only once per calendar year per participant. Direct training costs include gross course fees charged by external training providers or apportioned basic salaries of internal staff for in-house courses.
For more FAQs and information, please visit IBF-STS website.
For funding matters, please read our Terms and Conditions here.
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