Singapore
THE Monetary Authority of Singapore (MAS) on Wednesday rolled out a S$125 million support package for financial institutions and fintech firms, the bulk of which will go to training employees amid the current economic slump.
Funded by the Financial Sector Development Fund, about S$90 million will be channelled towards workforce training and manpower costs, and the remaining S$35 million, towards strengthening digitalisation and operational efforts, said the regulator in a statement.
To encourage firms to make use of the current downtime in business activity to train their employees, MAS will launch the Training Allowance Grant (TAG) to provide allowances for courses accredited by the Institute...