SINGAPORE: Schools offering business and finance-related courses have seen at least a 20 per cent increase in enquiries for their 2009 intake.

The interest could be largely due to the enhanced Financial Sector Development Fund (FSDF) training incentives scheme introduced by the Monetary Authority of Singapore (MAS).

Financial institutions that send their staff for training at accredited schools can get funding support for 80 per cent of the course fees from MAS. For the first time, individuals can also receive similar grants.

Courses offered will help those in the financial sector to prepare for the next economic upswing.

Associate Professor Annie Koh, dean, Executive & Professional Education, Singapore Management University, said: "Working with the MAS enhanced scheme makes sense because finance is a very specialised area.

"You could be in banking for the last ten years, but you've been in a very specialised niche area. So this is a great programme now to upgrade yourself. If you've been in corporate banking, you should now look at funds management, private equities."

The National University of Singapore's (NUS) Risk Management Institute also has courses subsidised under this scheme and its area of expertise is gaining importance in light of the reasons behind the current financial crisis.

David Chow, deputy director, Risk Management Institute, NUS, said: "As a financial centre, Singaporeans working in the finance industry would like to broaden their knowledge and coverage, especially the awareness of the importance of risk management.

"In the future, I think everyone – including the buy-side bankers – need to have some knowledge in modern risk management."

The MAS training incentives will be available till the end of 2010.


- CNA/so