Breakdown of Applications Received for Schemes under Financial Sector Development Fund Annually in Last Five Years
- In the last five years, the Financial Sector Development Fund received annual applications for course fee subsidies for individuals, with all claims approved and S$188 million disbursed to about 176,000 individuals, 87% of whom were Singapore Citizens.
- For financial institutions, nearly 600 applications were supported over five years, amounting to S$86 million and benefiting close to 2,200 Singapore Citizens, with almost all applications approved except for the Financial Specialist Scholarship, which had a 50% approval rate.
- The schemes aim to support career development at various levels, from pre-entry internships to senior leadership programmes, focusing on areas like digitalisation, sustainable finance, and cybersecurity.