The FSA’s Scholars Award for the Non-Banking Financial Services Sector

The FSA is pleased to announce the launch of its Scholarship Award Program for the Non-Bank Financial Services Sector for the year 2024, as part of its mandate to promote capacity building and to support the growth of the NBFS sector. The program aims to address the current technical skills deficiency that exists in the NBFS sector and to build a talent pipeline of skilled professionals in the field of financial services

The Scholarship program will award two fully sponsored scholarships to deserving professionals to pursue higher education in the following levels;

• Undergraduate level (Bachelor’s degree)
• Postgraduate level (Master’s degree) and;
• Postgraduate Diploma

Scholarship duration

The scholarships shall be tenable for the normal duration of the course and must be commenced as soon as practical unless otherwise specified or approved by the FSA.

Scholarship funds

The funds allocated under the scholarship program will be used to fully finance two scholarships annually and will cover all cost related to the scholarship which includes the following costs:

• Tuition fees
• Educational supplies
• Stipend/Living expenses and other allowances
• Return airfares (to and from the country of study)
• Insurance

Eligibility Criteria

To be eligible for the scholarship program, applicants must meet the following criteria:

• Be a citizen of Seychelles
• Not over 55 years old at the time of application
• Currently employed within the NBFS sector or seeking a career in the NBFS sector
• Must have at least 3 years of relevant work experience
• Possess good academic and professional records
• Must not be receiving an equivalent scholarship from another institution or organisation
• Must be undertaking the course for the first time
• Accurately complete and submit the scholarship application form along with the requested documents

Fields of study

Scholarships will be awarded for undergraduate and postgraduate level qualifications in the areas of specialisation outlined below:

• Capital Markets
• Financial Technology (Fintech)
• Funds and Investments
• Wealth and Asset management
• Insurance and Pension
• Actuarial science
• Gaming and Betting
• Anti-Money Laundering (AML)
• Compliance
• Financial Law
• Risk Management

 Application, selection and award process

The process of selecting candidates takes a minimum of 3 months from the application deadline to when applicants are conditionally selected for an award.

• The applicants submit applications against the eligibility criteria by the application deadline
• An assessment of eligibility criteria and quality of applications is completed by the FSA Scholarship Committee (“The Committee”)
• Applicants are shortlisted and invited for an interview
• The Committee makes recommendations to the Chief Executive Officer (CEO) of the FSA who will give the final decision
• Successful applicants are chosen and a conditional offer of scholarship is made
• The selected candidates confirm their acceptance of offer and the scholarships are awarded
• A scholarship award presentation is held at the FSA Headquarters

Selection Criteria

The Committee is responsible for selecting eligible applicants to be interviewed based on the following criteria:

• Prior academic performance
• Personal attributes and achievements
• Participation in community service/volunteerism
• Letters of recommendation from supervisor/employer
• Endorsement letter from employer
• Reason for applying for the scholarship program
• Reason to pursue the specific field of study
• Self-motivation and commitment to the proposed course

The Committee shall apply the criteria in a reasonable and objective manner. However, the Committee is not required to place the same weight upon each criterion for each candidate, and need not determine that all criteria exist for each candidate.

Click here to Download the application form

The deadline to submit applications is the 31^st January, 2024.

For further queries please email [email protected]