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FAQs

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Eligibility

1. How do I know if the course I attended is eligible under the Scheme?

 

You may refer to a full list of all eligible courses under the Eligible Training Programmes in this website where the list will be updated regularly for the approved courses / seminars.

 

 

2. How would I know if my employment is eligible under the Scheme?

 

You must be a full-time in-service practitioner (not necessarily in the field of asset and wealth management) on the commencement date of the course concerned, employed under:

 

  • a financial institution licensed with or registered by the Securities and Futures Commission (“SFC”) under the Securities and Futures Ordinance (Cap.571); or
  • a financial institution licensed with or registered by the Hong Kong Monetary Authority (“HKMA”); or
  • an insurer authorised or any insurance intermediaries licensed under the Insurance Ordinance (Cap. 41); or
  • a firm or corporate practices registered with the Hong Kong Institute of Certified Public Accountants; or
  • a trust company registered under Part 8 of the Trustee Ordinance (Cap. 29) or any trustees approved by the Mandatory Provident Fund Schemes Authority under the Mandatory Provident Fund Schemes Ordinance (Cap. 485); or
  • a trust or company service provider licensed by the Companies Registry under the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (Cap. 615); or
  • a recruitment agency where a contractual relationship with any eligible financial institutions within the scope of the above-mentioned can be verified; or
  • a member company of a group of which the relevant subsidiary is an eligible financial institution within the scope of the above-mentioned.

 

 

3. Who are considered to be in-service practitioners?

 

All full-time (with exemption – see question 4 below) employees of any of the eligible financial institutions as specified in question 2 above, including but not limited to:

 

  • front office: trading, research, structuring, sales, corporate finance, relationship management, fund management;
  • infrastructure groups: operations, sales support, information technology, settlement;
  • risk management;
  • finance and accounting;
  • legal & compliance;
  • internal audit &
  • Human resources etc.

 

 

4. Would there be any exemption from full-time employment?

 

An exemption from full-time employment will ONLY be granted to the following practitioners:

 

  • Insurance agents
  • Technical Representatives of insurance agent(s)
  • Technical Representatives of insurance broker(s)

 

A qualified applicant has to be an insurance intermediary licensed by the Insurance Authority where the Principal is an insurer authorised or an insurance intermediary licensed under the Insurance Ordinance (Cap. 41).

 

Additional information may be required to prove the contractual relationship between the applicant and the principal.

 

 

5. Am I eligible under the Scheme if I am an outsourced / contract staff of a financial institution where the employment contract is signed with the appointed recruitment agency (which is NOT a financial institution) of the receiving company?

 

If you are an outsourced or contract staff of one of the financial institutions per question 2, you are required to:

 

submit two company letters with one issued by the receiving company, which must be an eligible financial institution, and another one by the recruitment agency certifying that:

 

  • you are in full-time employment with the eligible financial institution's appointed recruitment agency and that you have been assigned to work for the eligible financial institution on a full-time basis as of the commencement date of the course; and
  • the financial institution and the appointed recruitment agency do not provide any subsidy or any other form of financial assistance for the 80% of the course fees to be reimbursed under the Scheme.

 

The application will be reviewed on a case-by-case basis depending on whether a working relation between the applicant and the receiving company can be demonstrated.

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Application procedures

1. Can I apply for course fee reimbursement if I receive partial sponsorship from my employer and/or other programmes of the HKSAR Government?

 

An applicant would only be required to confirm that he/she has not received any other form of subsidy or financial assistance for the 80% of the course fees to be reimbursed under the Scheme from any publicly-funded schemes and/or the applicant’s employer.

 

 

2. Can I apply for course fee reimbursement for multiple courses in one application?

 

Yes, applicants may apply for the course fee reimbursement of multiple courses as long as the application is submitted within 4 months from the end date of the individual training courses attended. The courses will be reviewed independently upon the satisfaction of the training provider(s).

 

 

3. Which date would be treated as the course end date for a course with multiple classes?

 

The date of the last class should be the course end date under normal circumstances. However, different training providers may have slightly different treatments. For any uncertainties, applicants are advised to check with the training provider(s) for confirmation.

 

 

4. Can I apply for reimbursement for the same course more than once?

 

No, each course can only be reimbursed once.

 

 

5. Can I fill in the application in hard copy?

 

Yes. Applicants may download the paper application form from the website and fill in the form. Please note that applicants using paper application form must come in person to the HKSI Institute office to submit completed paper application form together with all supporting documents. Submission of paper application form and supporting documents by mail will NOT be accepted.

 

For details, please refer to “Application Procedures” under Guide to Applicants.

 

 

6. Do I still need to provide the application form in hard copy after I submitted the application online?

 

Yes, as we need a duly signed application form and Deed of Undertaking to complete your application. After submitting application form online, applicants are required to print it out and sign on the form and the Deed. They should then submit the complete set of application form and the five classes of supporting documents (refer to “Application Procedures” under Guide to Applicants) by mail or in person to the HKSI Institute office at 5/F, Wing On Center, 111 Connaught Road Central, Hong Kong.

 

 

7. What if I have submitted application online but no application number was generated?

 

This means the application was not successful. You should resubmit the application online. Should you have any further questions, please contact us at 3120 6100 or email us at training@wamtalent.org.hk.

 

 

8. Do I need to submit separate company letters from my employer if I apply for course fee reimbursement for multiple courses in one application?

 

No. As long as the employment period in your company letter covers all the start dates of the courses concerned, i.e. the start date of your employment was prior to the start date of all courses, one company letter would suffice.

 

However, you may need to list out all attended courses/modules as the employer is required to certify that no subsidy or any form of financial assistance has been provided to you for the 80% of the course fees to be reimbursed under the Scheme.

 

Self-endorsement to certify the employment status is NOT accepted.

 

If you enrol in a package course with multiple courses in ONE single payment, you may submit only ONE company letter, provided that the employment period being certified covers the start dates of all individual courses.

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Eligible courses / seminars

1. Are there any course attendance requirements for applying for course fee reimbursement under the Scheme?

 

Yes, applicants should meet the attendance requirements laid down by the respective training providers.

 

Please note that different training providers may have different satisfactory level. For any concerns, please check with the corresponding training providers.

 

 

2. Do participants need to pass any examination in order to qualify for the reimbursement?

 

No. Participants only need to meet the attendance requirements laid down by the respective training providers.

 

 

3. How can I enroll in the courses that are covered in the Scheme?

 

You should register directly through the portal of the respective training providers. 

 

 

4. Does the Scheme cover in-house training programmes?

 

No. Only courses listed in the Eligible Training Programmes in this website are eligible.

 

 

5. HKIB has offered two learning modes for the Advanced Certificate for Enhanced Competency Framework (ECF) on Anti-Money Laundering and Counter-Financing of Terrorism (AML/CFT). Are these 2 learning modes (Tuition and Tutorial) both eligible for course fee reimbursement under the Scheme?

 

Yes, both the tutorial and tuition modes are eligible under the Scheme. However, they are considered to be the same course. You may apply either the Tutorial mode or Tuition mode but not both.

 

For details of the courses, you may check with the training provider for further information.

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Reimbursement of course fees

1. Does the Scheme cover examination fees?

 

No. Examination fees, registration fees, administrative fees, late charges or any other miscellaneous charges are not reimbursable. Only course fees will be reimbursed.

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Application deadline

1. Is there any deadline for application?

 

Yes. Applicants should submit their applications with all required supporting documents to the HKSI Institute within FOUR months from the last day of the course attended.  Any late or incomplete application will not be accepted.

 

All applications for reimbursement will be processed on a first-come-first-served basis, until the funding for the Scheme has been fully committed.

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Reimbursement process

1. How long will it take to reimburse the course fee?

 

It will take approximately eight weeks for applicants to get reimbursed, subject to complete and satisfactory supporting documents being provided.

 

If the information provided is incomplete or further clarification is required, applicants will be contacted for clarification or submission of supplementary information. In that case, the processing time may be longer.

 

If applicants do NOT respond to the queries from the HKSI Institute within eight weeks, the application may be rejected consequently.

 

 

2. How would I know if the reimbursement has been made?

 

Payment will be made directly to the successful applicant(s) by direct credit to the bank account specified in approximately eight weeks from the date of receipt of the hard copy of application forms, subject to complete and satisfactory supporting documents being provided.

 

Applicants may inquire about their application status, application history and remaining reimbursable amount online via www.wamtalent.org.hk.

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Others

1. How can I amend my personal particulars or application details after I submitted the application form in hard copy?

 

You must send written notification with reference to your application number to the HKSI Institute for further processing.

 

 

2. Can I claim a deduction for the course expenses under the Scheme in my tax return?

 

You may refer to the Government’s website on Deduction for Expenses of Self-Education for details.

 

You may also check Schedule 13 of the Inland Revenue Ordinance (Cap. 112) for a list of institutions that may accredit or recognise training or development courses for the purpose of prescribed course of education.