The MAS provides a wide variety of incentive schemes to support develop and attract top talent as well as working to support the growth of a highly skilled local workforce, relevant in today’s global workplace.
One of the MAS’s key initiatives is offering funding support to companies and individuals in the financial services sector, through the Financial Sector Development Fund (“FSDF”). The full range of initiatives can be found at:
As part of the FSDF, MAS launched a Variable Capital Companies Grant Scheme (VCCGS) to co-fund qualifying expenses paid to Singapore-based service providers for work done in Singapore, in relation to the incorporation or registration of a VCC. This scheme is valid till 15 January 2023.
Supports first-time issuers with an Asian nexus in issuing bonds from Singapore
MAS' Sustainable Bond Grant Scheme encourages the issuance of green, social, sustainability and sustainability-linked bonds in Singapore and is open to first-time and repeat issuers.
Supports issuers of ILS bonds in Singapore
Supports issuers of SGD-denominated bonds in obtaining credit ratings
Supports issuers in listing on the Singapore Exchange and financial institutions in developing equity research capabilities
Supports first movers in primary inter-dealer platforms, multi-dealer platforms and liquidity providers to set up matching and pricing/ trading engines in Singapore
Supports corporates in obtaining sustainability-linked loans and incentivizes banks to develop green and sustainability-linked loan frameworks
Supports the set-up of innovation centres of excellence or labs in Singapore to test-bed innovative ideas and roll out market solutions
Supports Singapore-based financial institutions to catalyse innovative ideas and market solutions to advance the competitiveness of the financial institution and the sector
Supports thematic industry-wide or nation-wide utility projects, for wider adoption of technological/utility infrastructure which would improve market efficiency, boost productivity, and strengthen risk management capabilities in the financial services sector
Supports projects that demonstrate adoption of AI & DA techniques that achieve business objectives of strategy & decision making or insights generation with consideration of workforce impact, as well as applied research projects in AI and DA for Singapore and the Singapore financial sector
Supports early-stage development of novel solutions to problems in the financial sector
Supports Singapore-based financial institutions that intend to set up or expand cybersecurity operations capabilities in Singapore
Supports smaller Singapore-based financial institutions and FinTech firms in the adoption of digital solutions to improve productivity, increase efficiency, manage risks better, build up operational resilience, and serve customers better
Supports smaller financial institutions in the adoption of regulatory reporting solutions from pre-approved managed service providers
Part of Workforce Singapore's (WSG) Adapt and Grow Initiative which provides mid-career Professionals, Managers, Executives and Technicians (PMETs) with the opportunity to be re-skilled and take on new careers in growth areas.
Multiple programs for individuals can be found in the Skill Development Initiatives section of the SINGAPORE FUNDS Website.
A postgraduate scholarship programme that helps develop specialist leaders in a variety of fields in Singapore's financial services sector. It is open to financial institutions and individuals.
Multiple programs for institutions can be found in the Skill Development Initiatives section of the SINGAPORE FUNDS Website.