MAS Incentives

  • Grants and Incentives

    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.

    Financial Sector Development Fund Support Initiative

    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:


    Specific grants include:

    • Support for Key Business Areas

      • Investment Funds

        Variable Capital Companies (VCC) Grant Scheme

        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. 

        More information here

      • Fixed Income

        Global-Asia Bond Grant Scheme

        Supports first-time issuers with an Asian nexus in issuing bonds from Singapore

        More information here


        Sustainable Bond Grant Scheme

        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. 

        More information here


        Insurance-linked Securities Grant Scheme

        Supports issuers of ILS bonds in Singapore

        More information here


        SGD Credit Rating Grant Scheme

        Supports issuers of SGD-denominated bonds in obtaining credit ratings 

        More information here

      • Equity

        Grant for Equity Market Singapore

        Supports issuers in listing on the Singapore Exchange and financial institutions in developing equity research capabilities

        More information here

      • Foreign Exchange & Derivatives

        Foreign Exchange E-trading Ecosystem Grant Scheme

        Supports first movers in primary inter-dealer platforms, multi-dealer platforms and liquidity providers to set up matching and pricing/ trading engines in Singapore

        More information here

      • Green Finance

        Green and Sustainability-Linked Loans Grant Scheme

        Supports corporates in obtaining sustainability-linked loans and incentivizes banks to develop green and sustainability-linked loan frameworks

        More information here

    • Support for Innovation and Technology

      • Innovation Centres

        Supports the set-up of innovation centres of excellence or labs in Singapore to test-bed innovative ideas and roll out market solutions

        More information here

      • Institution-level Projects

        Supports Singapore-based financial institutions to catalyse innovative ideas and market solutions to advance the competitiveness of the financial institution and the sector

        More information here

      • Industry-wide Technological Infrastructure or Utility

        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

        More information here

      • Artificial Intelligence (AI) and Data Analytics (DA)

        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

        More information here

      • Proof-Of-Concept

        Supports early-stage development of novel solutions to problems in the financial sector

        More information here

      • Cybersecurity Capability

        Supports Singapore-based financial institutions that intend to set up or expand cybersecurity operations capabilities in Singapore

        More information here

      • Digital Acceleration

        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

        More information here

      • Productivity Solutions Grant (PSG)

        Supports smaller financial institutions in the adoption of regulatory reporting solutions from pre-approved managed service providers

        More information here

    • Support for Skills and Career Development

      • Schemes for Institutions & Individuals

        Supports financial institutions in hiring, training and workforce transformation, and individuals in skills development and career mobility

      • For Individuals

        Professional Conversion Programme

        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.

        More information here

        Multiple programs for individuals can be found in the Skill Development Initiatives section of the SINGAPORE FUNDS Website. 

      • For Institutions

        Financial Specialist Scholarship (FSS)

        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.

        More information here 

        Multiple programs for institutions can be found in the Skill Development Initiatives section of the SINGAPORE FUNDS Website.