The deputy ruler of Dubai, Sheikh Hamdan bin Rashid Al Maktoum, has passed away at the age of 75 years.

The news of his demise was announced by   Dubai’s ruler on Wednesday.

Sheikh Hamdan was the brother of the current ruler of Dubai Sheikh Mohammed bin Rashid al-Maktoum.

According to a news report by Khaleej Times, Sheikh Hamdan bin Rashid had been holding the position of ‎Minister of Finance since the very first Cabinet of the UAE was formed on December 9, 1971.

 He had played an indispensable role in developing financial policies and government ‎spending.

He used to preside over several high-level government entities that played a ‎vital role in supporting the economy and labour market in the UAE.

“These included Dubai ‎Municipality, Al Maktoum Foundation, Dubai Aluminum (DUBAL) and Dubai Natural Gas ‎Company Limited, and Dubai World Trade Centre, among others,” read the publication.