Singapore Citizens and Permanent Residents can apply for IBF funding to get their exam fees reimbursed after passing the CAIA Level I or Level II exam.
CAIA Association (CAIA) and the Institute of Banking and Finance (IBF) offer targeted support under the IBF training schemes to enhance funding for talent development programs in growth and priority areas.
Eligible Singapore Citizens and Permanent Residents can receive up to 70% reimbursement on CAIA Level I and Level II exam registration fees upon successfully passing the exam.
Funding Level
Singapore Citizens (aged 40 and above)
70% of Exam Registration Fee
Singapore Citizens (aged below 40) and Permanent Residents
50% of Exam Registration Fee
Funding under the IBF Standards Training Scheme pertains to the CAIA Exam Registration Fee only (either first time or retake). The IBF funding will not cover the one-time program enrollment fee, print, or third party provided material.
Eligibility Criteria
To qualify for the IBF Standards Training Scheme (STS) funding, Candidates must meet the following criteria:
- Be a Singapore Citizen or a Singapore Permanent Resident.
- Be physically based in Singapore.
- Take the CAIA Level I or Level II exam at a Singapore test center.
- Successfully pass the CAIA Level I or Level II exam (to be validated during the result submission stage of the application process).
- (For Company Sponsored Participation) Be employed by Singapore based Financial Institutions regulated by the Monetary Authority of Singapore (MAS) as listed on MAS FI Directory or FinTech firms certified by Singapore FinTech Association (SFA).
Please note: Employees of MAS or IBF, civil or public servants, and recipients of CAIA discounts or scholarships are not eligible for funding.
Application Process
The CAIA-IBF funding process is strictly sequential; each step is entirely contingent upon the successful completion of the preceding one. Candidates cannot retroactively apply for previous steps once a stage has passed, and missing any step-specific deadline will invalidate the application. Consequently, late applications cannot be processed under any circumstances.
For Individual Sponsored Candidates
Step 1: Exam Registration & Payment
Complete your Level I or Level II exam registration on the CAIA website and complete payment.
Step 2: Submit Eligibility & Interest
Following the formal close of exam registration, you will receive an eligibility check email. Submit the Individual Sponsored Participation Application Form and upload the CAIA Exam Invoice within 7 calendar days to confirm your interest.
Step 3: Submit Exam Results
Once exam grades are released, passing candidates who completed Step 2 will receive an email. Submit the Exam Result Form and upload your Candidate Performance Report within 7 calendar days to complete your application.
Step 4: Receive Reimbursement
Verification of results and compliance. Reimbursement will be made in SGD directly to your PayNow account linked to your NRIC number.
Please note: Reimbursement may take up to five months from the last day of the exam window.
For Company Sponsored Candidates
Step 1: Exam Registration & Pay Later
Complete your Level I or Level II exam registration on the CAIA website and select [Pay Later] when you reach your shopping cart.
Step 2: Request Company Invoice & Payment
Email caia-ibf@caia.org with the subject line: IBF Company Sponsored Participation. Provide your CAIA ID, Invoice Number, Company Name and Address, Company Point of Contact, and Company Unique Entity Number (UEN). The CAIA team will issue an updated invoice. The company must settle the invoice before the corresponding registration cycle closes.
Step 3: Declaration Form Submission
Following payment completion, you will receive an email with a link to the Declaration Form. Sign and submit the form with required details.
Step 4: Submit Exam Results
Once exam grades are released, passing candidates who completed Step 3 will receive an email. Submit the Exam Result Form and upload your Candidate Performance Report within 7 calendar days to complete your application.
Important Program Terms & Regulatory Disclosures
Final Authority & Dispute Resolution: The CAIA Association maintains sole administrative discretion over the verification and approval of all program fee reimbursements. Please note that the Institute of Banking and Finance (IBF) Singapore acts strictly as the funding provider and will not arbitrate any regional eligibility or processing disagreements.
Regulatory Data Reporting: To comply with institutional funding mandates, the CAIA Association is required to submit personal identifiable information (PII) and corresponding examination results directly to the IBF for all registered applicants, irrespective of the final exam outcome.
Acceptance of Terms: By proceeding with your CAIA exam registration and participating in the IBF-STS funding track, you acknowledge and agree to all compliance timelines, eligibility mandates, and data disclosure policies outlined above.
Frequently Asked Questions
No. Funding applies exclusively to the CAIA exam registration fee (for both first-time attempts and retakes). It does not cover the one-time program enrollment fee, physical textbooks, or third-party preparation materials.
No. Under the IBF-STS framework, funding is strictly a reimbursement scheme contingent upon passing. Candidates or sponsoring companies must pay all exam fees upfront, and the reimbursement is only validated and processed after a passing result is officially submitted.
No. Employees of the Monetary Authority of Singapore (MAS), IBF, and general civil or public servants are explicitly excluded from IBF funding eligibility.
No. If you participate in the IBF-STS funding program, you are not eligible to apply for or claim additional CAIA discounts or scholarships. The funding benefits cannot be combined with any other promotional or financial aid programs.
The 7-calendar-day submission windows are strict compliance baselines required by the program workflow. The CAIA-IBF funding process is strictly sequential. Missing any step-specific deadline will immediately invalidate your application. Late applications cannot be processed under any circumstances.
No. Individual disbursements are paid out strictly in Singapore Dollars (SGD) via PayNow linked directly to your NRIC number. For corporate tracks, payouts are issued solely via PayNow to the sponsoring company’s Unique Entity Number (UEN). No exceptions can be made.