The Malaysian financial landscape has undergone a transformation in years to one that is sound, competitive and well diversified. To support the dynamic growth of the Malaysian financial sector, the financial services industry comprising commercial banks, investment banks, Islamic banks, development financial institutions, insurance and takaful companies unveiled the FSTEP in September 2007 to develop new talents.

FSTEP, the brainchild of the Governor of Bank Negara Malaysia Tan Sri Dato’ Seri Dr Zeti Akhtar Aziz is managed by Institut Bank-Bank Malaysia and driven by the financial services industry with the objective to train and prepare high calibre graduates to serve in the financial services institutions in Malaysia.

Objective

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FSTEP is entrusted to produce about 1,000 highly trained financial industry professionals to meet the shortage of skilled talents in the financial services industry.

The Targeted Participants

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The programme is targeted at graduates from local and foreign institutions of higher learning as well as those who are working in the non-financial sector but with interest to pursue careers in the financial services industry i.e. conventional banks, Islamic banks, insurance and takaful companies.

Entry Requirements

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Selection Criteria

•    Malaysian
•    Age of  30 years and below
•    Must possess a high level of English language proficiency
•    Local / foreign degrees with a minimum C.G.P.A. of 3.25, preferably in the following disciplines:
 
           - Accounting
           - Actuarial Science
           - Banking
           - Business Studies
           - Communications
           - Economics
           - Engineering
           - Finance
           - Insurance
           - Investment Analysis
           - Islamic Banking
           - Linguistics
           - Mathematics
           - Statistics
           - Syariah Law

**Others in business and non-business disciplines will also be considered



Programme Structure

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FSTEP provides a one-year programme that covers four core banking and insurance streams namely Conventional banking; Investment banking; Islamic banking; and Insurance and Takaful. Participants will undergo an intensive six-month classroom training to be followed by about six-month internship in banking and insurance, including Islamic finance and Takaful.

Beginning 2009, the programme introduced an intensive one-month English language course which is facilitated by trainers from the British Council as well as those from IBBM and other sources. As such, the six-month internship has been shortened to five months.

The comprehensive training includes simulations, workshops and case studies as well as on-the-job training/exposure through internship with financial institutions. In addition, participants will also undergo personal development courses, Outward Bound School and be involved in community service projects aimed at developing well-rounded individuals.

FSTEP incorporates the core and technical competencies required of financial services practitioners in line with the Banking and Finance Industry Competency Framework Model which is benchmarked against international standards.

Programme Content

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The orientation of the programme focuses on the practical and operational aspects of the financial services industry.

Phase One : 6 months classroom training on the followings:-

• Intensive English Course (INTEC)
  
• Introduction to Conventional Banking  
• Introduction to Investment Banking
• Introduction to Insurance & Takaful   
• Introduction to Islamic Banking
• Outward Bound School
• Other extracurricular activities - Corporate Social Responsibility, industrial visits and others
  

Phase Two : 5 months of Internship with Financial Institutions   

• Internship with a Financial Institution   
• Mentoring Programme   
• Technical Skills Development
  

Benefits

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• Monthly scholarship allowance of RM2,200.00 per month
• Basic medical and insurance coverage
• Invaluable industry training and exposure
• Plus many more benefits of personal development courses, Outward Bound School, English speakers club etc.
• Outstanding participants stand a very good chance to be absorbed into the financial services industry

Programme Intake

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Every January and July of the year


Application Procedure

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Print on-line application form and send to FSTEP office.