Singapore, 6 July 2007...MAS has launched a Doctorate Scholarship Programme (DSP). The Programme aims to further develop specialised skills in areas such as financial risk management, financial engineering and economics to support the long-term growth of Singapore’s financial services sector.
2 The DSP is a fully-funded scholarship for candidates interested in careers as researchers in Singapore-based universities and research institutes, or who wish to enter the industry as highly skilled specialists. Singapore-based financial institutions and universities can send promising executives, fresh graduates and PhD candidates midway through their studies to top universities both abroad and locally to pursue specialised PhD programs.
3 MAS has set aside a budget of S$20 million from the Financial Sector Development Fund (FSDF) to co-sponsor up to 70% of qualifying expenses with the Singapore-based financial institutions and universities. We expect to award up to 50 scholarships over the next five years.
4 The Programme is part of MAS’ ongoing efforts to partner the industry to raise the quality of the talent in the financial services sector. Initiatives include the Financial Training Scheme and Financial Industry Competency Standards, which aim to benchmark and enhance competency and professionalism.
5 Announcing the launch of the DSP at the inaugural Berkeley-NUS Risk Management Institute’s Annual Research Conference, Mr Heng Swee Keat, Managing Director, Monetary Authority of Singapore, said “As our financial industry grows in scale and the range of activities, we need to build up risk management expertise in the industry, especially those relating to Asia’s financial environment. I believe Singapore can help catalyse the creation of knowledge in these areas. The DSP is an example of our partnership with the industry and academia where we work closely together to create and disseminate knowledge relating to financial risks.”