The Institute of Banking and Finance (IBF) launched its new IBF Golden Jubilee ITE Scholarship in celebration of its 50th Anniversary celebration. The scholarship offered to Institute of Technical Education (ITE) students, includes a study award of $3,000 and a five-month internship with a financial institution.
A collaborative effort between IBF, ITE and thirteen financial institutions, 50 eligible ITE students will be awarded scholarships, providing them with industry exposure to a wide range of roles within the financial sector.
The scholarship is offered to Singaporean students in their final year of Higher NITEC courses from School of Business & Services and School of Electronics & Info-comm Technology.
“This scholarship will expand possibilities within the financial sector for ITE students through internships, catalyse partnerships between financial institutions and ITE, and reframe perspectives by advocating for skills-based hiring to recognise the potential of ITE talent,” says Gan Kim Yong, Minister for Trade and Industry and deputy chairman of the Monetary Authority of Singapore (MAS) at the scholarship launch on May 14.
With participating institutions such as J.P Morgan and Maybank Singapore, this scholarship enables financial institutions to better understand the qualities and capabilities of ITE students.
The Memorandum of Understanding (MoUs) on collaboration of talent development for the financial sector was also signed at the launch between the IBF, ITE and thirteen participating financial institutions.
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“Going forward, IBF, ITE and financial institutions will explore the interest for a new Work-Study Diploma in financial services, to offer further upskilling opportunities for ITE graduates,” says Carolyn Neo, IBF’s CEO.
“This initiative not only catalyses new possibilities and partnerships, but also promotes inclusivity and skills-based hiring in the financial sector,” adds Neo.
