Dubai Taxi sets up solidarity fund for cab drivers
The Dubai Taxi Corporation (DTC) at the Roads & Transport Authority (RTA) has recently set up a Social Solidarity Fund for cabdrivers of the fleet; which comprises 3,504 vehicles operated round-the-clock to serve citizens, residents and tourists arriving in Dubai from all corners of the globe.
It was decided to establish the Fund after an elaborate study & research carried out by the committee tasked by Mattar Al Tayer, Chairman of the Board and Executive Director of the RTA, to satisfy some of the financial needs of cabbies based on an internal regulation governing the process of borrowing from the Fund.
Ahmed Hashim Bahrozyan, Head of DTC Supervisory Committee, said: “All RTA agencies & sectors are keen on providing all sorts of support to employees to enable them carry out their jobs effectively & transparently. Addressing the individual needs is crucial for improving the staff performance, particularly cabdrivers who exert physical & psychological efforts in serving a wide spectrum of taxi users in Dubai Emirate. Therefore the RTA views them as ambassadors for it in dealing with various community segments.”
“The underlying objective of establishing the Fund is to assist members through providing them access to interest-free loans “al-qard ul-hasan” in amounts not exceeding Dh5,000, paying a compensation of Dh12,000 maximum for the account of the driver in case of death, God forbids, Dh5,000 maximum in the event of terminating the service of the driver due to the lack of health fitness, and disbursing Dh1,000 maximum for medical treatment, in addition to other cases as decided by the Committee, and endorsed by the CEO of the DTC,” added Bahrozyan.
The terms of reference of the Committee tasked with the management of the Social Solidarity Fund for Cabbies include: managing the affairs & funds of the Fund in the interest of members, implementing the general policy of the Fund in a way ensuring the realization of its objectives, scrutinizing the social & financial cases of members applying for “al-qard ul-hasan” or various grants in order to take an appropriate decision, safeguarding the money of the Fund against loss or overspending, and depositing the funds in an investment bank account such that any withdraw from the account shall only be made via documents signed by the Head of the Committee or the CEO of the DTC.
They also include preparing the administrative & financial templates required for implementing the provisions of this Regulation, submitting monthly or as-needed reports to the CEO of the DTC summarizing the business conduct of the Committee and key achievements made, drawing up conditions, controls and requisites of the Fund’s business management, accepting new applications & examining new categories, developing a mechanism for recovering the member’s subscriptions, and designing a Declaration form to be signed by the member endorsing the investments made along with the payment aspects, in addition to other roles tasked by the Supervisory Committee,” added Bahrozyan in a final remark.
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