Moscow [Russia], October 2 (ANI): The final stage of the International Olympiad on Financial Security has officially opened at the Siberian Federal University, welcoming around 600 schoolchildren and students from 40 countries, including CIS, BRICS and SCO states, reports sibnovosti.ru, a partner of TV BRICS.

The opening ceremony featured a panel discussion on international cooperation in financial security, marking the start of the intensive five-day programme. The Olympiad aims to enhance young people's information, financial and legal literacy.

Students from Latin America, including Bolivia, Venezuela, Ecuador and Uruguay, are participating alongside finalists from the Middle East, the UAE, Oman, Bahrain and Jordan, and African countries such as Algeria, Egypt, Mauritania, Namibia and Ethiopia, as reported by TV BRICS.

The participants were welcomed by Russian President Vladimir Putin, who praised the initiative for fostering young talent.

'It is gratifying that the Olympiad has become part of the systemic, multi-faceted work of the state and society to improve access to modern knowledge and unlock the creative potential of the younger generation. Every year it expands its geography and representation, serving as a key event of the International Movement on Financial Security,' Putin said.

In addition to competition challenges, participants will attend masterclasses, roundtables and lectures by leading experts. The cultural programme includes tours of the university campus, a festival of Russian folk games and a phygital chess tournament.

Foreign participants expressed admiration for the event's organisation. Islam Abdulahadov from Kazakhstan said, 'This is my first experience, but everything here is at a high level. Russia has prepared very well, and I am confident I can achieve a prize place to represent my country with dignity.'

Some participants were amused by the sudden change in Siberian weather. Chinese students commented, 'When we arrived, it was almost summer, yesterday autumn came, and today it feels like winter. But despite this, we feel very warm at heart.'

The Olympiad will conclude on October 3 with a closing ceremony and the awarding of winners. Since its inception in 2021, the International Olympiad on Financial Security has played a pivotal role in improving the financial and legal literacy of youth while addressing modern digital threats. (ANI)