Schemes and Initiatives
Published Date: 28 April 2020

Asian Financial Leaders Scheme (AFLS)

The AFLS initiative helps financial institutions* defray part of the costs incurred in sending promising C-1/C-2 Singaporean finance professionals on eligible leadership programmes. 

What It Is

The AFLS is a leadership development initiative supported by the Financial Sector Development Fund (FSDF). Its objective is to encourage the financial industry to develop its pool of future leaders, by sending them on eligible leadership programmes that would provide the knowledge to navigate the diverse business, regulatory, and legal environment in the region.

About the FSDF

The FSDF was set up to facilitate the development and enhancement of talent and other infrastructure for Singapore’s financial centre in keeping up with dynamic changes worldwide. The FSDF supports various schemes that help Singapore develop a pool of highly skilled professionals in their respective specialist areas.

Eligibility

Claimants should be the sponsoring financial institutions, based locally (in Singapore) or overseas, that are sending eligible programme participants for the eligible programmes. 

Eligible programme participants include promising incumbent staff whom the financial institutions are keen to groom as future leaders. Only Singapore Citizens will be supported. 

Eligible Leadership Programmes

2. Asia Leaders in Financial Institutions (ALFI) by NUS  

Funding Support 

FSDF will reimburse 75% of programme fees (exclude airfare, accommodation, absentee payroll and allowance) for eligible programmes that eligible programme participants attended between 1 July 2018 and 30 June 2023, capped at S$50,000 per participant. 

How to Apply / Claim

Sponsoring financial institutions can only claim funding support after the eligible programme participants have successfully completed the programme.

Each sponsoring financial institution should submit one claim form for all eligible programme participants per qualifying period by the following submission period: 

 Claim cycle  Qualifying period  Submission period
 1  Programmes completed from January to June  July to September of the same calendar year
 2  Programmes completed from July to December  January to March of the next Calendar Year

Each claim submission should be accompanied by relevant supporting documents: 

1. Claim form duly completed and signed by the Head of Human Resources and Head of Internal Audit (or Head of Compliance in the absence of Internal Audit); 

2. Invoice issued by the programme provider; and

3. Certificate of completion.

You may contact us for the claim form at: 

Manpower Development Division
Financial Centre Development Department
Monetary Authority of Singapore
Tel: 6229 9357
Email: manpower@mas.gov.sg  

* Financial institutions refer to entities that are licensed or exempted from licensing by MAS.