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MAS has launched the Finance Scholarship
Programme (FSP) under the Financial Sector Development Fund (FSDF). The
objective is to further develop specialised skills to support the
long-term growth of Singapore's financial services sector. |
A tri-partite partnership between MAS,
Singapore universities and financial institutions, the FSP is a
postgraduate scholarship programme to groom a sizeable pool of
specialists in targeted fields such as risk management, quantitative
finance, financial engineering and actuarial science. |
Under the programme, Singapore-based
financial institutions are encouraged to send promising executives or
fresh graduates to undertake specialised Masters programmes in
top-ranked international Universities. |
Upon graduation, FSP scholars will return to
Singapore to contribute in their respective fields with their sponsoring
financial institutions. |
MAS will set aside a budget of S$30 million
from the FSDF over the next 5 years. It expects to award some 150 FSP
scholarships over the next 5 years. 13 financial institutions have come
on aboard to co-sponsor 120 scholars and MAS expects more institutions
to participate in the programme. |
MAS will also leverage on our local
universities to identify and prepare a pipeline of outstanding students
with high potential to undertake the specialised Masters programmes in
top Universities. |
Students identified will have an opportunity
to be selected and sponsored by financial institutions for postgraduate
studies under the FSP. |
The industry will also provide internships
to successful candidates before they commence their postgraduate studies
to give them practical exposure in their chosen specialisation. |
Said Mr Heng Swee Keat, Managing
Director, Monetary Authority of Singapore, "Looking further ahead,
the greater sophistication of our financial services will place
greater demands on specialist skills. We should aim to nurture a
critical mass of specialists who can meet these demands and drive
our next phase of growth." |
Information: |
1. Financial Sector Development
Fund |
The Financial Sector Development Fund
was set up to facilitate the development and enhancement of talent
and infrastructure for Singapore's financial centre. For more
information on the Financial Sector Development Fund, please refer
to
pt1Assistance_to_Financial_Institutions.htm |
2. List of Pioneer Financial
Institutions Participating in the FSP |
- ABN Amro Bank DV
- Barclays Capital
- BNP Paribas
- Citibank NA
- Credit Suisse
- DBS Bank Ltd
- Fortis Bank N.A/S.V
- Hong Kong and Shanghai Banking
Corporation Limited
- The Oversea-Chinese Banking
Corporation Ltd
- Singapore Exchange
- Standard Chartered Bank
- UBS AG
- United Overseas Bank Ltd
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Source:
www.mas.gov.sg Press Release
29 Jun 2006 |
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