The Monetary Authority of Singapore (MAS) has released $30million over the next five years to train financial specialists in the world's best educational establishments. This programme, The Finance Scholarship Programme (FSP) has just been launched in a bid to satisfy Singapore's growing need for young financial talent and will see Singapore-based financial institutions sending promising young executives and graduates to follow Master's programmes in top-ranking international educational establishments.

EDHEC is among the first on the list together with London School of Economics and the HAAS School of Business in the United States. Courses studied include Risk Management, Quantitative Finance, Financial Engineering and Actuarial Science.

Mr Heng Swee Keat, managing director of the MAS said "Looking further ahead, the greater sophistication of our financial services will place greater demands on specialist skills. We should aim to nurture a critical mass of specialists who can meet these demands and drive our next phase of growth."

150 FSP scholarships are planned over the next five years with thirteen financial institutions (such as Citibank and ABN Amro) acting as sponsors of the scheme. Upon graduation, the FSP scholars will return to Singapore and their sponsoring financial institutions.

According to the MAS, Risk Management plays a critical role in maintaining the safety and soundness of banks, a fact that the staff of EDHEC's Risk and Asset Management Research Centre are quick to echo. The research done at the school is increasingly visible on an international level and EDHEC's  Finance students continue to benefit from the partnerships the school develops with leading institutions and the direct contact it maintains with over 55,000 professionals worldwide.

Read more about this programme from Channel News Asia.