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IBF Funding

Discover IBF-eligible Courses to Increase Your Salary Potential in Singapore

In just 21 hours, you can acquire in-demand skills online with up to 70% IBF subsidy to increase employability and job security in tech.

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IBF Funding - Vertical Institute
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What is the IBF Standards Training Scheme (IBF-STS)?

The IBF Standards Training Scheme, offered under the IBF funding, provides course fee subsidies for training and assessment programmes accredited under the Skills Framework for Financial Services. It is open to both eligible self-sponsored individuals and company-sponsored individuals.

What Courses Can I Enrol for with IBF Funding?

Upskilling in tech has become the new norm for many individuals, especially with technological advancements and a shift in job operations. With the IBF funding, you’ll be able to kickstart your upskilling journey and learn high-growth tech skills. Vertical Institute offers tech courses that are eligible for IBF funding.

Data Analytics

Learn Excel, SQL, Tableau; leverage data for business decisions.

Claimable with SFC and UTAP

Cybersecurity

Acquire key cybersecurity skills and tools for a career boost.

Claimable with SFC and UTAP

UX Design

Design impactful digital experiences and enhance your portfolio.

Claimable with SFC and UTAP

Digital Marketing

Gain digital marketing skills in SEO, SEM, social media & more.

Claimable with SFC and UTAP

Advanced Data Analytics

Master advanced Excel, SQL, Tableau with Singaporean’s data experts.

Claimable with SFC and UTAP

Blockchain & Cryptocurrency

Learn about Bitcoin, blockchains, cryptocurrencies, NFTs and more.

Claimable with SFC and UTAP

Who is eligible for IBF funding?

The eligibility requirements are:

  1. Applicants must be a Singaporean citizen or a Permanent Resident (PR) that is physically based in Singapore.
  2. Applicants must successfully complete the course, which includes fulfilling the minimum attendance requirements and passing the assessment component of the programme.

Who is eligible for IBF funding?

  Course commencing between
1 July 2022 - 31 December
2022 (Both dates inclusive)
Course commencing
1 Jan 2023
Eligible Singapore Citizens and PRs Funding amount for direct training costs:
  • 70% capped at S$7,000 per participant per course
Funding amount for direct training costs:
  • 50% capped at S$3,000 per participant per course
Eligible Singapore Citizens aged 40 years and above Funding amount for direct training costs:
  • 90% capped at S$7,000 per participant per course
Funding amount for direct training costs:
  • 70% capped at S$3,000 per participant per course

How do I obtain the IBF Funding?

IBF funding support operates on a nett fee model. Eligible self-sponsored and company-sponsored individuals are only required to pay the unsubsidised portion of the course fee. The nett fee can then be fully paid with your SkillsFuture Credits.

Training providers will claim the course fee subsidy from IBF directly.

How to Claim IBF Funding

Self-sponsored Individuals

Self-sponsored individuals are not required to submit claims for the subsidy. Upon successful completion of the course, your training provider will help to submit the course fee subsidy claims to IBF.

Company-sponsored Individuals Company-sponsored individuals must be working in an eligible company such as the following:
  • Financial Institutions that are regulated by the Monetary Authority of Singapore
  • Singapore FinTech Association (SFA) certified FinTech Firms

Frequently Asked Questions

What does IBF refer to?

IBF stands for the Institute of Banking & Finance (IBF) Singapore. It is the national accreditation and certification agency for financial industry competency in Singapore under the Skills Framework for Financial Services, which was established in partnership with the industry.

What is the purpose of IBF?

The Institute of Banking and Finance (IBF) aims to promote the development of the financial industry in Singapore by enhancing the skills, knowledge, and professionalism of industry professionals. The IBF serves as a national accreditation and certification agency for financial professionals in Singapore and works closely with industry stakeholders to develop and implement training programs and qualifications that meet the evolving needs of the financial industry.

What is IBF funding?

There are two main schemes provided under the IBF funding – IBF Standards Training Scheme (IBF-STS) and IBF Financial Training Scheme (FTS). Under these schemes, eligible individuals may receive up funding support off course fees on IBF funded courses in Singapore.

How do you qualify for IBF funding?

For Self-Sponsored:
All Singaporeans or Singapore Permanent Residents (PRs) that are physically based in Singapore and successfully complete the course will be eligible.

  • Be a Singaporean Citizen or PR physically based in Singapore
  • Minimum of 75% attendance (this means that you must attend at least 6 out of 7 lessons)
  • Pass the assessment

 

For Company-Sponsored:

  • Be from Financial Institutions that are regulated by the Monetary Authority of Singapore (MAS) (either licensed / exempted from licensing) or Fintech companies that are registered with the Singapore Fintech Association.
  • Be a Singaporean Citizen or PR physically based in Singapore
  • Minimum of 75% attendance (this means that you must attend at least 6 out of 7 lessons)
  • Pass the assessment

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