• The aim is to empower future generations with modern technology as well as financial literacy.
• From next year, the Central Bank report will be discussed in schools - President.

President Ranil Wickramasinghe said that future generations will be empowered with modern technology as well as financial literacy.

The President also pointed out that it is essential in the journey towards a developed Sri Lanka by 2048 with new economic methods.

Also, the President mentioned that from next year, the Central Bank report is expected to be discussed in schools and for that purpose, the Central Bank of Sri Lanka will implement a program to provide necessary training to teachers and student leaders.

President Ranil Wickramasinghe mentioned this while attending the opening ceremony of the 'Capital Market Association' program in 100 selected schools held at Nugawela Middle School in Kandy this morning (31).

The President's Office, the Ministry of Education, the Securities and Exchange Commission and the Colombo Stock Exchange have jointly implemented this program as per the instructions of President Ranil Wickremesinghe with the aim of increasing the awareness of the stock market and financial literacy among school students.

The Secretary of the Ministry of Education M.M. Ranasinghe, Securities and Exchange Commission Director General Chinthaka Mendis and Colombo Stock Exchange Chief Executive Officer Rajiva Bandaranaike signed.

President Ranil Wickramasinghe presented the charter certificate and the amount of one lakh rupees related to the establishment of Capital Market Association of Nugawela Middle School to Principal Dhammika Bandara.

Also, the President also handed over the set of books that compile the knowledge related to the establishment of 'Capital Market Associations' to Mrs. Achini Kanitiwela, who is in charge of the subject.

He was also presented with a portrait of President Ranil Wickremesinghe painted by the art teacher of the college, Mrs. Nayana Wijekoon.

Mr. Ranil Wickramasinghe, who spoke on the occasion, further said:

The education minister also quoted the song in his speech saying, "If we stay in one place, the world will pass us by." Keeping that in mind, we have started this program today.

For a long time we worked with the attitudes of the industrial age of the mid-20th century. And those principles were engaged in politics. I don't think I need to mention the results here.

In the years 2021 and 2022, we became a bankrupt country due to economic problems as well as the Covid epidemic. But I have now started the program to save the country from bankruptcy. It must be said that our government is doing it successfully.

We should focus on how to move forward without falling back into the abyss as a country. It should be decided whether to continue with the policies followed in the middle of the 20th century or else to think anew and go on a new journey. If we continue according to the old system, we won't even have a country to turn around in. Because we should not forget that where we are today, there is a big gap.

It must also be said that we will not allow the generation that will take charge of the future of this country to face such a situation. So we have to go on a new journey with technology. I don't need to mention the technological advancements of the 21st century.

When we were in school, there was not even one telephone in each village. But today everyone has a mobile phone. Some people have two mobile phones. That is the difference.

As we move forward with this change, we need to bring modern technology to the country. We are doing a lot of work for that. Also, the Ministry of Education and research institutes are carrying out those activities. Accordingly, we have to decide the new technology methods to be introduced to the country. Blockchain technology, artificial intelligence, genomics are all things we need to move forward with.

And this technology should be taken to the village. Because we are introducing the agriculture modernization program to take the new technology home. While moving forward with modern technology we need to keep one more thing in mind. Technology alone is not enough. All these activities require money. We are a society where money is used. And today that money is used in a very open market. Today's government cannot control the use of money. Neither the US government nor the International Monetary Fund can do it.

There was no digital technology back then. In 1993, I signed up to get internet to Sri Lanka. Till then we did not have any of these facilities. With this new technology we are connected to the world in a very short time.

Also, in the competitive economy, there is a financial system that does not care about borders. Whether this is good or bad, we cannot change it. We have to work from this limit. The money needed by the world is finally obtained from the market. Banks get the money they need from banks. Companies get the money they need from the stock market. Money is used accordingly.

The most important thing here is money. Like the private sector, the government also chooses the money market. And get treasury bonds. Today is trying to educate you about this methodology. Today we are starting only one part of it.

Also, I hope to discuss the Central Bank report in schools from next year. I am discussing it with the Ministry of Finance. For that, teachers and student leaders are being trained as well as getting the support of bank officials.

Therefore, we should be aware of modern methods. Not only the imparting of knowledge, but also the use of money and securities should be brought to the village. There are talented people in the village. They should be given the necessary training.

At the same time, today's world is one market. We should join with that. For that, we sign many free trade agreements. It is being discussed with Singapore as well as India, Bangladesh, Thailand, Indonesia, China, Malaysia and Vietnam. It is expected to enter new markets with the countries of East Asia, Southeast Asia, Australia and New Zealand as well as Japan.

Also, we are discussing with the European Union about getting facilities. In two weeks, a team from America will come to this country to discuss with us. So we need to be aware of the global market and those agreements.

The new economy we are building is a “green economy”. Also, a "digital economy" has savings in the green economy. So here is a new method. Along with this, we have also focused on an offshore economy. Regarding that, the laws are being prepared in discussions with special bar associations in London. We have to decide if we are going to move forward with these new economic systems, or stay in the abyss.

In another 10-15 years, most of the people here will be between 25-35 years of age. So today you have to decide about your future. We provide the necessary knowledge. You have to experiment. That program has been started today.

Currently only 100 schools have been selected for this program. The number is expected to increase later. If the stock market, as well as the Securities and Exchange Commission, has the ability to further engage with this, I would appreciate it. I request them to take over one or two of these associations and provide that support.

10 million rupees have been given to start this program. Accordingly, each school will receive Rs. I request that no other money be used for this purpose. Limit this to one point. After a year has passed, we will find out which school has successfully implemented this program.

10 students and the subject teacher of the school that successfully implemented the program will be given a trip to Singapore to study the stock market in Singapore for a few days.

That is why it was informed to limit this amount to one lakh. Whether in a poor area or in a developed area, the cost is limited to one lakh. Also, we hope to provide opportunities for the second and third places. With this, the new economy is brought to the village. And this challenge is handed over to you as part of the program of building a developed country in 2048. I would like to thank everyone who contributed and organized this.

Also, when I came to Nugawela Vidyalaya today, there is another thing that I remembered. At that time, the concept of middle school was presented and it was adopted in the State Council by the then Minister of Education C.W.W. Mr. Kannangara. As a result, the people of Horana defeated him in the parliamentary elections.

That is the situation that education ministers have to face. Instead, the next government's DS. Senanayake was elected as the Prime Minister. AD Mr. Nugawela was appointed as the Minister of Education. He contributed to the creation of these 50 middle schools. We thank him for establishing 49 other schools in addition to this Nugawela Middle School. I am happy to have the opportunity to start this new program in a school he founded.

The Minister of Education Dr. Susil Premajayantha who spoke here,

As a result of a survey conducted in the United States of America in 1999, STEM education was introduced in 2003. Currently, a hundred countries around the world are implementing the same education system. We have started that system now. Then another letter was added. Accordingly, a subject such as commerce, arts and aesthetics has also been included as STEAM education.

Although any of these educational systems are theoretically successful in the classroom, problems arise as to how they are implemented in practice. Most of the students do not understand about cheques, bills of exchange etc. No matter how many commercial banks there are in Sri Lanka, a child studying commerce will never go to a bank and experience how things work there. At least I have not seen a circular document. The capital market is limited to a limited number of people. This project, which will be launched today, will give school leavers the opportunity to work as investors with high knowledge.

Mr. Randula Abeweera, Presidential Director of Youth Affairs and Sustainable Development,

A small seed planted on the ground can become a big tree that gives shade to a thousand people. Taking that story as a prelude, steps have been taken to create it in capital society schools today.

According to the concept of President Ranil Wickramasinghe, a plan was prepared to establish school capital trading clubs. The program has been started today by selecting the best 100 schools that obtained the best results in the commercial sector according to the A-level results.

Mr. Rajiva Bandaranaike, Chief Executive Officer of the Stock Exchange,

According to the president's concept, the capital market society that will be launched today can be called a future investment. Its importance is reflected in the joining of four national institutions for that purpose. Together we can do more than we can alone. We want to increase the number of people involved in this field, create educational partnerships and create financial education brands. The first steps are taken by implementing this concept.

Mr. Faisal Saleh, Chairman of the Securities and Exchange Commission of Sri Lanka,

Financial literacy is very important when dealing in the capital market. There is a lack of knowledge regarding financial literacy in the region. Through the establishment of these capital societies to provide knowledge about the use of money, the child will be able to gain an understanding within the school itself. And children are interested in this. Schools have planned to impart this knowledge to children from 6th grade upwards. The Ministry of Education and the Securities and Exchange Commission of Sri Lanka are directly contributing to this. Arrangements have been made to hold seminars on this for school students in the future. We hope for the support of the Janadhipati and the Minister of Education to include this subject in the revision of the school's syllabus.

Minister Keheliya Rambukwella, State Ministers Lohan Ratwatte, Dilum Amunugama, Member of Parliament Gunathilaka Rajapaksa, Central Province Governor Lalith U. Gamage, President's Secretary Saman Ekanayake, Chairman of the Colombo Stock Exchange Dilshan Weerasekera, government officials, principals, teachers and students were also present on this occasion.