Princess Sumaya highlights need to support scientific education

AMMAN — HRH Princess Sumaya, president of the Royal Scientific Society and chairperson of the Princess Sumaya University for Technology board of trustees, on Monday stressed the need to nurture and support scientific education.

“I believe that science is so much more than technology, for technology is born out of science and out of the scientific mindset that we must support if we are to succeed in the decades to come,” the princess said in an opening address at the Arab Advisers Group’s “Electronic & Mobile Payments in the Arab World Conference”.

Stressing the importance of the event, which provided an opportunity for networking and exchange of expertise, she said political and military turmoil in the region made its peoples feel left behind in the world of technology.

The princess said there is an additional responsibility on all at present to protect the talented and the innovative in the region and to prevent brain drain.

“This is vital to reach sustainable development in the region,” she said at the conference, attended by 250 senior executives representing 90 regional and global companies.

During the event, Omar Soudodi, CEO of PayFort, highlighted the potential for e-commerce in the Middle East, especially since the Arab world has some 150 million Internet users.

He noted that online payment in the Middle East grows at around 45 per cent annually, which is higher than the global average.

Soudodi added that the majority of transactions in the Middle East at present are via cash.

Jawad Abbassi, Arab Advisers founder and general manager, said the one-day event comes at a time when there are rapidly changing developments and technologies in the field of electronic and mobile payments in the region.

Abbassi noted that e-commerce in the Middle East is growing annually at a rapid pace.

Participants during the event looked into the role of central banks, telecom operators, financial institutions, payment networks and regulators in changing the shape of financial transactions and enhancing its availability for everyone.