Page 11 - NYAA & GAHA Responding to COVID-19

A Landmark United Nations Treaty On Mediation Named After Singapore

A landmark United Nations Treaty that aims
to promote mediation in settling cross-border
commercial disputes signed by 50 countries in
Singapore came into force on 12 September 2020.
Prime Minister Lee Hsien Loong hailed it as a
powerful statement supporting multiculturalism.
Deputy Prime Minister and Coordinating Minister
for Economic Affairs and Minister for Finance, Mr
Heng Swee Keat, said the Convention’s signing
signals Singapore’s commitment to a rule-based
international order. UN Secretary-General Antonio
Guterres echoed Prime Minister Lee’s remarks,
saying the Convention would include contributions
toward strengthening the rule of law and
multilateralism.

Mrs Natalie Morris-Sharma, Director of International
Law and an NYAA Gold Award holder (2000 Cohort) Prime Minister Lee Hsien Loong and Home Affairs
and former Chairperson of the NYAA Gold Award & Law Minister, Mr K. Shanmugam with Mrs Natalie
Holders’ Alumni, chaired Singapore’s Mediation Morris-Sharma, NYAA Gold Award holder (2000
Team that negotiated the treaty. Cohort).

Onelyst And Rely, A Singapore-Based Financial Technology Company

Mr Mohamed Abbas, Co-Founder of Rely and an Channel News Asia featured Mr Abbas on Chinese
NYAA Gold Award holder (2015 cohort), came primetime news on 22 September 2022 for his
from a humble background. Both Abbas’s parents contributions to helping the less well-off community
are hawkers, and having grown up in a low- through the apps he created. Many small businesses
income family, he is constantly worried about his could take off with the support of Onelyst and Rely
future. Mr Abbas is always grateful to the NYAA, software.
who encouraged him to study hard and have a
positive attitude in life. He did well and received a
scholarship to study Banking and Finance at NTU.
However, Abbas realised that many less well-off but
honest people who need a small loan to help start a
business have no chance of getting a loan from the
banks as they do not have collateral.
Abbas came up with an idea to develop software to
help a vulnerable group of people. He created the
software Onelyst and made history in Singapore
when he crossed the $100 million mark in the first
year of operation with the support of OCBC Bank, Mr Mohamed Abbas
which helped small businesses. NYAA Gold Award holder (2015 Cohort)

Subsequently, he co-founded Rely; a fintech startup
offering Buy Now Pay Later (BNPL) services in
Singapore. Forbes Magazine named Mohamed
Abbas one of the top 40 under 40, and he received
many awards for his achievements.

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