IBF-Financial Training Scheme (FTS)

This program is eligible only to Company-sponsored participants satisfying the following criteria:

• Participants must be Singapore Citizens or Singapore Permanent Residents physically based in Singapore.
• Participant has completed 100% attendance.
• Company must be:
  • Financial Institutions regulated by MAS (licensed or exempted from licensing), or involved in supporting financial sector activities, Click here to check or
  • FinTech firms must be certified by Singapore FinTech Association (SFA), Click here to check or
  • Entities that are significantly involved in supporting financial sector activities will be assessed for eligibility on a case-by-case basis. Kindly email funding@ibf.org.sg if you are not sure if the company qualifies as a Financial Institution / FinTech Firm.
• For participants from licensed representatives (e.g. financial advisors, insurance agents, remisiers) of financial institution or a general insurance agent registered with the General Insurance Association's (GIA) Agent Registration Board, you will need to:
  • provide a letter from your Principal Entity stating its support of your training and
  • furnish to your Principal Entity relevant documentation, including a certification of course completion, as part of the claim application.

For full details on IBF FTS scheme, please visit IBF website here.

⚠️ Note: AnL reserves the right to claw back the funded amount from the participant (in the case of self-sponsored participant) or the company concern (in the case of company-sponsored participants) if the eligibility criteria is not met.

1.1 Cancellation/Postponement/Withdrawal

AnL reserves the right to cancel, withdraw or postpone any programme due to unforeseen circumstances. In the event that a course is cancelled or re-scheduled and the fee has been paid, AnL will refund the net course fee received.

1.2 Cancellation, Deferment and Withdrawal Policies

The following policies will apply for late notice of deferment, withdrawal or cancellation by the participants, unless waived based on compassionate or medical ground is granted.

Cancellation/Withdrawal

• 7 business days and more prior to the course commencement – No charge.
• Less than 7 business day including no show on first day of the training or after the training commences – 100% of course fee payable by participants.
• Request for cancellation/withdrawal has to be made in writing before the deadline allowed for cancellation/withdrawal (e.g. Email) and subject to acceptance by AnL.

Deferment

Deferment is permitted on compassionate or medical grounds with relevant documents given to AnL as supporting evidence.

1.3 Minimum Class Size Policy

The minimum class size policy applies to the minimum number of confirmed participants required to start the course. Confirmed participants who had already paid the course fee will receive the full refund when AnL is not able to attain the minimum class size to start the course.

1.4 Refund of Course Fee

Course fee refund is applicable only if the course fee has already been paid by the participant. Refund may apply under one of the following conditions:

• Request for cancellation has been received and accepted by AnL.
• Request for withdrawal has been received and accepted by AnL.
• Request for deferment has been received and accepted by AnL.
• The course has been cancelled by AnL because it cannot attain the minimum class size to start the course.
• The course has been cancelled by AnL due to unforeseen man-made or natural circumstances beyond the control of AnL.

1.5 Registration & Confirmation

Registration will typically close 7 calendar days before the course commencement date or when the class is fully subscribed, whichever comes first. If training places are still available, registration may remain open until course commencement date.

Participants who have successfully completed the registration process will receive the acknowledgement via email.

Following from registration, participants will receive an email notification if the course is confirmed to proceed as scheduled. The confirmation email will be sent 14 calendar days before the course commencement or immediately in the case for participants who register after the course confirmation date.

2.1 Refund of Course Fee Policies (IBF)

Refund application form must be requested from AnL via email and submitted to AnL after the details have been furnished; before the stipulated deadline. In the event where the course is cancelled by AnL, participants do not need to initiate the request of the refund; AnL will process and effect the refund to the participants.

When submitting the refund request, the following supporting documents are required to be enclosed:

• For Self-sponsored Registration: proof of your identity, course fee receipts and relevant supporting document(s), e.g. medical certificate, hospitalisation leave etc.
• For Corporate/Company-sponsored Registration: participant needs to inform the company's designated officer who submits the registration on his/her behalf. The company designated officer will liaise with AnL to perform the course fee refund request and the submission on his/her behalf.

Refund Schedule for IBF Recognised Programmes:

2.2 Funding Quantum

2.2.1 IBF Financial Training Scheme ("FTS")

For training programmes commencing from 1 January 2023

• Funding support for the same course will be granted only once per calendar year per participant.
• One-off industry related events e.g., conferences and seminars will not be eligible for FTS funding.
• Direct training cost would be based on the gross programme fee charged by the external training provider.

2.2.2 IBF Standards Training Scheme ("IBF-STS")

The IBF Standards Training Scheme ("IBF-STS") provides course fee subsidies to eligible company-sponsored individuals and self-sponsored individuals who complete training and assessment courses accredited under the Skills Framework for Financial Services.

For programmes under the Critical Core Skills and Future-Enabled Skills categories, participants must be locals employed in the financial sector (i.e., by financial institutions or Singapore FinTech Association (SFA) certified FinTech firms).

For training programmes commencing from 1 January 2023

• Funding support for the same course will be granted only once per calendar year per participant.
• Direct training cost would be based on the gross programme fee charged by the external training provider.

For more information on funding terms and conditions, please visit:

• IBF-FTS recognised program
• IBF-STS recognised program

2.3 Claim Conditions

2.3.1 For Company-Sponsored Participants:

Company Sponsored participants will be paying NETT fee for the course. Claims will be submitted to IBF by AnL.

• GST is not a qualifying component for funding support.
• SkillsFuture Credit (SFC) cannot be used to co-fund the programme fees of company-sponsored training programmes.

2.3.2 For Self-Sponsored Participants:

Self-sponsored participants will be paying NETT fee for the course. Claims will be submitted to IBF by AnL.

• For courses commencing before 3 October 2022, GST is inclusive for funding support.
• For courses commencing on or after 3 October 2022, GST is not inclusive for funding support.

2.4 Certification

Participants who successfully completed the IBF recognised programmes will receive the:

• Certificate of completion from AnL for both the IBF-STS and IBF-FTS recognised programmes.
• IBF-recognised certificate from IBF in the case of IBF-recognised programmes.