FSDF grants support a wide range of initiatives across talent development, technology and innovation, financial sector activities and consumer education.
The financial sector continued to provide good job opportunities in the past year, with 3,500 net jobs created
- Build Capabilities, Strengthen Employability
- Build Pipeline for Entry-level, Leadership, and Specialist Talent
Technology and Innovation
Significant projects supported by the FSTI last year include:
- , which is the world’s first public digital infrastructure to use a national digital identity and centrally managed online consent system to enable individuals to seamlessly consolidate their personal financial data from multiple institutions for financial planning;
- , which aims to enable cheaper, faster and safer cross-border payments using a common platform for multiple central bank digital currencies (CBDCs);
- Set-up of by financial institutions, FinTechs and technology companies, as well as regional cybersecurity hubs under the
- projects to experiment, develop and deploy innovative solutions using emerging technologies;
- projects to promote AIDA adoption amongst financial institutions and FinTech firms; and
- Industry pilot projects under the Digital Acceleration Grant which supports smaller financial and FinTech firms in adopting and collaborating on digital solutions, in order to enhance their process efficiency and risk management.
Financial Sector Activities
- Debt capital market: MAS supported new bond and insurance-linked securities issuances through the
In January 2020, MAS announced the expansion of the Asian Bond Grant Scheme to cover all issuers with an Asian nexus, and renamed the scheme as the Global-Asia Bond Grant scheme., the , and the .
- Equity capital market: The , first launched in 2019 to support listings on the Singapore Exchange as well as training and research initiatives that enrich our public equity research ecosystem, was enhanced in September 2021 to expand the scope of support provided for listings and research talent development.
- Foreign exchange market: More liquidity takers and multi-dealer platforms were supported under the Foreign Exchange E-Trading Ecosystem Grant Scheme, which aims to build an FX e-trading ecosystem in Singapore.
- Fund Domiciliation: Take up for the, which promotes the incorporation or re-domiciliation of investment funds in Singapore, remained strong in 2021.
- Green Finance: The supported corporates, particularly small and medium-sized enterprises, in accessing green financing. FSDF also supported the establishment of the National University of Singapore Sustainable and Green Finance Centre (SGFIN), a green finance centre of excellence, to deepen sustainable finance knowledge and capabilities in Singapore.