Late last month, the Monetary Authority of Singapore (MAS) announced that it was allocating S$30 million over the next 5 years on a Finance Sector Development Fund (FSDF). And a large portion of this budget is to be disbursed through the Finance Scholarship Programme (FSP) - a postgraduate scholarship scheme for targeted fields including actuarial science, quantitative finance, risk management and financial engineering.

While details about the terms and conditions of the scholarship have not been revealed (through the press release or MAS’ website), we do have some general information about the FSP. For one, the FSP is co-sponsored by Singapore-based financial institutions (such as DBS Bank, Credit Suisse and Barclays Capital), and recepients of the scholarship will thus have to return to serve these institutions upon completion of their studies.

Secondly, a total of around 150 scholarships will be awarded over the next 5 years - implying a reasonable average of around 30 per annum. Last but not least, those applying for the FSP have to be good enough to get a place in the best finance-based universities in the world, e.g. Columbia University, London School of Economics, etc.

If you’re interested, you’ll have to contact MAS directly for application details, or wait for further information to be released on MAS’ website.

[News via ChannelNewsAsia]