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24 Feb 2024

Obtaining ISO certification in financial sustainability

an image about iso certification

Dubai’s Roads and Transport Authority (RTA) has achieved ISO certification in financial sustainability, marking a first-time accomplishment across the Middle East. Granted by the British Standards Institution (BSI), the certification acknowledges RTA's fulfilment of all requirements including hosting an internal training workshop conducted by the company for RTA's financial management, aimed at identifying the prerequisites of standards and how to uplift the business operations of the Finance Department. RTA’s team successfully translated their acquired knowledge into practical application by fulfilling the requirements of the system.

RTA’s efforts in financial sustainability

Ahmed Ali Al Kaabi, Executive Director of the Finance Department highlighted RTA’s efforts in financial sustainability reflected in setting up a robust financial management system aligned with RTA's strategic plan. 

“RTA has implemented a comprehensive management system to ensure proper planning, execution, monitoring, and reporting. These efforts are supported by various initiatives and programmes within the overall framework based on the continuous improvement and governance model to ensure success. Additionally, RTA also focused on diversifying revenues, enhancing operational efficiency, and appreciating asset value,”  said Al Kaabi. 

Results of implementation of financial sustainability

“Among the notable tangible results of implementing financial sustainability is the development of strategic goals related to achieving the requirements of financial sustainability, applying control and governance, developing a transitional and an action plan for the strategy along with scenario analysis, risk impact assessment, and the issuance of a report illustrating the effects of financial sustainability on progress, performance, and deliverables,” he added. 
“The results also include the integration of core principles of financial sustainability into operations, activities, products, and services in addition to aligning strategies and operations with regulatory requirements to meet stakeholders' expectations. It also managed to enhance transparency of policies, operations, organisational sustainability, and performance,” he concluded.

Financial sustainability and link to strategy

Financial sustainability is a process of streamlining the financial operations and managing the economic, environmental, and social impacts. It represents an approach and policy adopted by the Department to stimulate economic growth, preserve economic and environmental resources, and harness them for the benefit of society. It aims to contribute to achieving the principles and requirements of sustainable development, identifying ways to implement the best practices, and integrating them into the business and service system. As such, it ensures the integration of all activities and initiatives, contributing to realising RTA’s strategic directions.

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