Board Remuneration
Board remuneration at Dubai Taxi Company is governed by an AGM approved Board Remuneration Policy that is aligned with Federal Decree Law No. 32 of 2021, the SCA Board Chairman’s Decision No. 3 of 2020 on the Governance Guide for Public Joint Stock Companies, and the Company’s Articles of Association.
The policy ensures that remuneration for Board members is transparent, fair, and clearly linked to Company performance, while respecting the limits set out in the Articles.
Governance and Approval
Remuneration is determined and approved through the following steps:
1
The Nomination and Remuneration Committee reviews the policy and proposed remuneration and submits recommendations.
2
The Board of Directors reviews and endorses these recommendations.
3
The General Assembly approves Board remuneration, including any exceptional payments.
This process ensures full shareholder oversight.
Structure of Remuneration for Non‑Executive Independent Members
For non‑executive independent Board members, remuneration is limited to the following components, in line with the Articles of Association and the approved policy:
1. Board remuneration from net profit
- Board members collectively receive a share of DTC’s net profit.
- The total Board remuneration is capped at 1 percent of net profit after depreciation and reserves, as set out in the Articles and the policy.
2. Committee attendance fees
- Members of Board committees are entitled to AED 15,000 per meeting, subject to an annual cap of AED 90,000 per committee member, as provided in the Board Remuneration Policy.
3. Reimbursement of expenses
- DTC reimburses reasonable expenses incurred in the performance of Board duties, so that members are not financially disadvantaged.
4. Exceptional lump sum payments
- In specific cases allowed by the Articles, and subject to General Assembly approval, a Board member may receive a one‑time lump sum payment of up to AED 200,000, for example when the Company does not make a profit or when the member’s share of the profits is less than this amount. Regular remuneration cannot be combined with this amount in such cases.
Non‑executive independent Board members do not receive salaries or recurring allowances from DTC outside these elements.
Board Remuneration Facts
Board remuneration for the year was determined in line with the AGM‑approved Board Remuneration Policy, the Articles of Association, and the SCA Governance Guide. Non‑Executive Independent Directors received only profit‑based remuneration and committee meeting fees within the approved limits. No salaries or recurring allowances were granted.
The figures below reflect all remuneration paid to Board members for the reporting year.
FY 2024:
DTC shareholders, during the AGM held on March 19, 2025, approved a Board of Directors remuneration for the fiscal year ending on December 31, 2024, amounting to a total of AED 3,896,000, remaining below 1% of the period’s net profit.
FY 2025:
The proposed Board remuneration for the fiscal year 2025 will be in alignment with the provisions outlined in Dubai Taxi Company’s Articles of Association and the Board remuneration policy.
The final approval of the proposed remuneration will be sought from the shareholders during the upcoming Annual General Assembly for the year 2025.
| Name | Committee | Position | Allowance Value | # of Meetings | Total |
|---|---|---|---|---|---|
| Ahmed Ali Mohammad Altheeb Alkaabi | Audit Risk and Compliance Committee | Chairperson | AED 15,000 | 4 | AED 60,000 |
| Investment Committee | Chairperson | AED 15,000 | 3 | AED 45,000 | |
| Abdulla Mohammed Abdulla Bin Damithan Al Qemzi | Nomination and Remuneration Committee | Chairperson | AED 15,000 | 6 | AED 90,000 |
| Dr. Hanan Sulaiman Mohamed Khalifa Al Suwaidi | Audit Risk and Compliance Committee | Member | AED 15,000 | 4 | AED 60,000 |
| Shehab Hamad Abdullah Hamad Bu Shehab | Nomination and Remuneration Committee | Member | AED 15,000 | 6 | AED 90,000 |
| Essa Abdulla Khamis Bin Natoof Al Falasi | Nomination and Remuneration Committee | Member | AED 15,000 | 6 | AED 90,000 |
| Investment Committee | Member | AED 15,000 | 3 | AED 45,000 | |
| Yousuf Ahmad Ali Saeed Bin Ghulaita Almheiri | Audit Risk and Compliance Committee | Member | AED 15,000 | 4 | AED 60,000 |
| Investment Committee | Member | AED 15,000 | 3 | AED 45,000 |
Board of Directors: Meetings and Strategic Oversight – FY 2025
The Board of Dubai Taxi remained actively engaged throughout FY 2025, holding regular meetings to oversee strategy, financial performance, governance matters, and emerging priorities. The Board’s structured agenda and disciplined oversight approach reflect its commitment to transparency, accountability, and alignment with regulatory requirements and best governance practices.
Key Focus Areas in FY 2025
Throughout FY 2025, the Board maintained a strategic and forward‑looking agenda focused on long‑term value creation, governance enhancement, and performance oversight. The main areas of focus included:
1
Strategic Direction and Business Performance
Review of Company performance, strategic priorities, competitive positioning, service expansion, and progress toward DTC’s long‑term growth objectives.
2
Financial Oversight and Capital Planning
Review of quarterly financial results, audited financial statements, capital requirements, and approval of the FY 2026 budget, ensuring prudent financial management and alignment with shareholder expectations.
3
Governance Framework and Policy Enhancements
Annual review of governance manuals, Board and committee charters, key corporate policies, and Board evaluation outcomes to support governance maturity and compliance with SCA requirements.
4
Risk, Compliance, and ESG Oversight
Ongoing oversight of key risks, compliance matters, internal controls, and sustainability initiatives through regular updates and committee recommendations.
5
Subsidiary Governance and Group Alignment
Oversight of key governance subsidiary matters, including governance structure, charters, and operating model to ensure consistency across the wider DTC group.
6
Strategic Partnerships and Major Contracts
Review and approval of major partnerships and key agreements supporting operational excellence, market position, and strategic expansion.
7
Shareholder Alignment and Dividend Decisions
Review and approval of dividend distributions in line with DTC’s dividend policy, financial capacity, and long‑term shareholder value considerations.
8
Executive Management Engagement and Reporting
Regular structured updates from Executive Management, ensuring alignment on strategy execution, operational progress, and performance priorities.
Board Meeting Attendance in FY 2025
| # | Date | Location | Abdul Muhsen Ibrahim Abdulrahman Younus Kalbat | Ahmed Ali Mohammad Altheeb Alkaabi | Abdulla Mohammed Abdulla Bin Damithan Al Qemzi | Dr. Hanan Sulaiman Mohamed Khalifa Al Suwaidi | Shehab Hamad Abdullah Hamad Bu Shehab | Essa Abdulla Khamis Bin Natoof Al Falasi | Yousuf Ahmad Ali Saeed Bin Ghulaita Almheiri |
|---|---|---|---|---|---|---|---|---|---|
| (Chairman) | (Vice Chairman) | (Member) | (Member) | (Member) | (Member) | (Member) | |||
| 1 | February 19, 2025 | DTC HQ | |||||||
| 2 | May 07, 2025 | DTC HQ | |||||||
| 3 | July 28, 2025 | DTC HQ | |||||||
| 4 | November 10, 2025 | DTC HQ | |||||||
| 5 | November 26, 2025 | DTC HQ |
Legend: – Present, – Excused, – Absent
Board Resolutions by Circulation in FY 2025
In addition to scheduled Board meetings, resolutions by circulation were approved during FY 2025 to address urgent matters requiring timely decisions. This practice is consistent with the Company’s Articles of Association and ensures continuity in decision‑making between meetings.
| # | Date |
|---|---|
| 1 | March 26, 2025 |
| 2 | April 10, 2025 |
| 3 | September 24, 2025 |
Conflict of Interest Governance
Dubai Taxi maintains a clear and structured process for identifying, declaring, and managing conflicts of interest in accordance with its Conflict‑of‑Interest Policy and the Securities and Commodities Authority’s governance requirements. This ensures the Board’s decisions remain objective, transparent, and aligned with the best interests of the Company.
Declaration Prior to Each Meeting
Before every Board and Committee meeting, members are required to submit a declaration confirming the absence of any conflict or disclosing any actual or potential conflict.
Recording and Management of Conflicts
Any declared conflict is formally recorded in the meeting minutes and managed in line with internal policies and regulatory requirements. Directors with a declared conflict are recused from the relevant discussion and decision‑making process to ensure impartiality.
Governance Oversight and Documentation
The Board Secretary maintains a complete record of all conflict declarations, actions taken, and any related correspondence. This ensures full traceability and supports DTC’s commitment to ethical governance, transparency, and regulatory compliance.