Schemes and Initiatives
Published Date: 18 February 2022

Financial Sector Development Fund

Establishment and Objects of the Fund

The Financial Sector Development Fund (FSDF) provides grants to firms and individuals in the financial services sector.

The FSDF is established under the Monetary Authority of Singapore Act to:

  • Promote Singapore as a financial centre
  • Develop and upgrade skills and expertise required by the financial services sector
  • Develop and support educational and research institutions, research and development programmes and projects relating to the financial services sector
  • Develop infrastructure to support the financial services sector in Singapore. 

Available Grants

Depending on your needs, you can tap on the following grants under the FSDF:

Support for Key Business Areas
 Fixed Income

Global-Asia Bond Grant Scheme

Supports first-time issuers with an Asian nexus in issuing bonds from Singapore

Sustainable Bond Grant Scheme  Supports issuers in issuing green, social and sustainability bonds in Singapore
Insurance-linked Securities Grant Scheme Supports issuers of ILS bonds in Singapore 
Grant for Equity Market Singapore Supports issuers in listing on the Singapore Exchange and financial institutions in developing equity research capabilities
Foreign Exchange & Derivatives
Foreign Exchange E-trading Ecosystem Grant Scheme Supports first movers in primary inter-dealer platforms, multi-dealer platforms and liquidity providers to set up matching and pricing/ trading engines in Singapore
Investment Funds
Variable Capital Companies (VCC) Grant Scheme Supports fund managers in their set up of new investment funds as VCCs and in re-domiciling their existing overseas investment funds to Singapore as VCCs
Green Finance
Sustainable Loan Grant Scheme   Supports corporates in obtaining sustainable and transition financing
Investor Education & Outreach
 Investor Education Scheme Supports any parties, including public or community, industry, market or professional bodies, to organise investor education programmes leading to the development of the investor base in Singapore
Support for Innovation & Technology
Centre of Excellence Supports the set-up of centres of excellence in Singapore to test-bed innovative ideas and roll out market solutions
Industry-wide Technological Infrastructure or Utility Supports industry-wide projects that seeks to build industry-wide technological/utility infrastructure and/or improve efficiency and boost productivity in the financial services sector
Artificial Intelligence (AI) and Data Analytics (DA) Supports projects that are focused on AIDA adoption with the objectives to improve decision making and/or generate better insights
Innovation Acceleration - Early Innovation Supports experimentation, development and dissemination of nascent innovative technologies in the financial services sector
ESG FinTech Supports the mobilising of capital towards sustainable activities and tracking of net zero transition plans and programmes
Regulatory Technology Supports Singapore-based financial institutions to enhance the efficiency of their risk management and compliance functions through the use of technological solutions
Support for Skills and Career Development
Schemes for Institutions & Individuals Supports financial institutions in hiring, training and workforce transformation, and individuals in skills development and career mobility 

Find Out More

Interested applicants can write to for more information.

FSDF Annual Reports

View current and all past FSDF Annual Reports here .