Bank Negara Malaysia wishes to announce that the FSTEP successfully rolled out its programme with the first batch of 297 candidates selected out of a total of about 2,900 applicants. These candidates from local universities are from a diverse academic background and with excellent academic credentials. The FSTEP is a 12-month programme developed to prepare participants for the financial services industry. The participants receive a scholarship of RM2,200 per month as well as basic medical and insurance coverage. Participants who successfully completed the programme will be absorbed into the financial sector. This initiative is to provide a supply of high powered talent into the financial services industry.

Participants in the programme will receive training and gain exposure in commercial banking, investment banking, Islamic banking as well as insurance and takaful through rigorous technical classroom and on-the-job training. The facilitators of the programme comprise of professionals as well as practitioners who will share their experience and insights of the financial industry. The participants will also receive training in personal and character development programmes to enhance their leadership qualities and communication skills.

A part of the FSTEP programme is the opportunity for the participants to engage with prominent financial industry leaders. In the inaugural engagement session, participants of the FSTEP programme had the opportunity to interact and discuss with the Governor of Bank Negara Malaysia, Tan Sri Dr.Zeti Akhtar Aziz on the role of the Central Bank in macroeconomic management, its role as a regulator and its role in developing the financial sector. Wide ranging issues were discussed including current developments in the international financial system.

FSTEP, a pioneering programme developed by the financial services industry in collaboration with Bank Negara Malaysia was an initiative to support the human capital requirement of the financial services industry.