King Salman: Islamic countries need knowledge revival

Participants take part in a group photo at the opening of the first Islamic Summit on Science, Technology, Innovation and Modernization in Astana on Sunday. (SPA)
Updated 11 September 2017
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King Salman: Islamic countries need knowledge revival

ASTANA: King Salman said that the first Islamic Summit of Science, Technology, Innovation and Modernization in the Islamic World, being held in Astana, Kazakhstan, emanates from the noble values ​​of Islam and the principles of the Charter of the Organization of Islamic Cooperation (OIC) which focuses on the importance of science and knowledge.
Speaking on behalf of King Salman at the opening session of the summit on Sunday, Minister of Energy, Industry and Natural Resources Khalid Al-Falih said that the Islamic countries need today, more than ever, a knowledge revival in light of mega challenges they are facing in a world where competition for knowledge is raging and becoming the cornerstone of economic success.
Al-Falih said the achievement of the revival is based on four pillars, the first of which is development of education, which has to be based on encouragement of innovation and free thinking in a manner that will be a platform for the discovery of the talented and their promotion.
The second pillar, he said, is based on the encouragement of scientific and technical research and ensuring provision of finance, whether from the public or private sector.
The third pillar rests on building an integrated system where creators and their ideas are being cared for to ensure that their scientific research is transferred into practical applications with economic value, he said.
The fourth pillar rests on the establishment of cooperation and integration within one country, and between countries and global organizations such as the OIC, he said.
He said while the state organs represent the key to running the engine of the revival, efforts must expand to include public and private institutions as well as community members.
Meanwhile, the secretary-general of the Organization of Islamic Cooperation, Dr. Yousef bin Ahmed Al-Othaimeen, said that this summit comes at a crucial time for OIC countries. “It comes in the midst of unprecedented political, economic and security variables, which put the OIC in one trench to meet the challenges of the age.”
Al-Othaimeen said: “Political and security solutions to contemporary problems should be accompanied by effective social, cultural and economic plans based on science and knowledge.”


Riyadh hosts commercial arbitration conference

Updated 10 min 24 sec ago
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Riyadh hosts commercial arbitration conference

Hussam Al Mayman RIYADH: The inaugural International Conference on Commercial Arbitration began on Monday in Riyadh.
The conference, organized by the Saudi Center for Commercial Arbitration, has gathered six ministers, 47 experts from 15 countries, and a number of decision-makers.
Dr. Hamed Meera, the center’s executive director, said it is in the advanced stages with the Justice Ministry of transferring some commercial mediation cases from commercial courts to the center.
It has entered into a strategic partnership with one of the oldest arbitration centers in the world, the AAA, to prepare the Saudi center’s rules and training of staff, Meera added.
The center provides effective alternatives to settle commercial disputes instead of going straight to court, he said.
“The center is not a competitor to the judiciary courts, but is complementary and aims to reduce the burden on them,” he added.
“The center is one of Vision 2030’s initiatives to facilitate business and attract foreign investment,” he said.
“It provides an effective, efficient and independent dispute-settlement solution, and extensive flexibility and broad options for parties in terms of choice of law, language, selection, nationality, specialization, arbitration sessions and time.”
During his speech at the conference, Justice Minister Walid Al-Samani said arbitration is a means to support the settlement of disputes.
“Commercial arbitration contributes to the speed of completing and settling disputes. We are very optimistic about what has been achieved by the Saudi Center for Commercial Arbitration, and the support for institutional arbitration must be broadened,” he added.
“I am optimistic about the efforts and enthusiasm I have seen. We need more awareness of commercial arbitration, and we look forward to a greater role of chambers of commerce in this direction.”