SINGAPORE: The Institute of Banking and Finance has appointed five training providers to conduct training programmes to cover all disciplines in the financial services industry.

The move is aimed at building a world-class financial services workforce in Singapore to cater to the strong demand for qualified financial professionals.

The five training providers, known as Lead Providers, will develop over 270 programmes based on Financial Industry Competency Standards for all 52 job families in the financial services industry.

These programmes include fund management, wealth management and insurance. They are targeted at financial institutions and financial practitioners.

About 30 per cent of the programmes will be available in the next 12 months.

Financial institutions can obtain up to 70 per cent funding support for the training or assessment fees for their employees who successfully complete the programmes.

This will be disbursed from the Financial Sector Development Fund, which is administered by the Monetary Authority of Singapore.

The scheme will be available until the end of next year.

The five Lead Providers are: Financial Training Institute @ SMU, International Compliance Association, NUS Risk Management Institute , Singapore College of Insurance and the Wealth Management Institute. - CNA/yy