FICS FSDF Funding


The ICA is the Lead Provider of Financial Industry Competency Standards (FICS) Training and Assessment Programmes in Compliance as appointed by the Institute of Banking and Finance, the Monetary Authority of Singapore and the Singapore Workforce Development Agency.





ICA’s Professional and Specialist Diplomas – Job Roles IV and V are now fully accredited under FICS.



Financial Institutions may obtain 90% funding support from the FDSF administered by the MAS for ICA FICS accredited programmes subject to various terms and conditions.



For individuals who are not sponsored by financial institutions and who pay for their own training, MAS will similarly provide 90% funding support when they attend and complete ICA's FICS accredited diploma programmes subject to various terms and conditions. Non-sponsored individuals may also include GST for funding at 90%.



The funding application may be made here. For general enquiries, please call 6220 8566.

For more information on the Skills Programme for Upgrading and Resilience (SPUR) click here.


Funding Calculator: Example of Delegate Sponsored by Employer



(The fees outlined below are net of Goods & Services Tax.)

Diploma in Compliance

SGD $2350
Price of Each Module
 
SGD $2115
 90% of Module Fee Eligible for FICS FSDF Funding Upon Attainment of SOA
 
 SGD $235
 Remaining 10% of Module Fully Borne by Employer



Example One: For Professional Diploma (involving 4 Modules)



  • Total Cost of Diploma:  SGD $9400 (4 Modules)
  • Cumulative FICS FSDF Funding Total:  SGD $8460 (based on total of 4 individual Modules at 90% each)
  • Total Cumulative Cost to Employer After FICS FSDF Funding:  SGD $940

Example Two: For Specialist Diploma (involving 5 Modules)



  • Total Cost of Diploma:  SGD $11,750 (5 Modules)
  • Cumulative FICS FSDF Funding Total:  SGD $10,575 (based on total of 5 individual Modules at 90% each)
  • Total Cumulative Cost to Employer After FICS FSDF Funding:  SGD $1175

Please note:

1. Each Module is invoiced separately
2. FICS FSDF Funding is administered by IBF and is subject to terms & conditions
3. Course fees quoted above are not inclusive of 7% GST
4. Course fees are quoted in SGD for the purposes of this example.



Enhanced FSDF Training Incentives to Encourage Continued Investment in Talent Development
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