Wednesday Mar 24, 2021
DUBAI: The United Arab Emirates finance minister and the deputy ruler of the emirate of Dubai, Sheikh Hamdan bin Rashid Al Maktoum, has died, Dubai's ruler said on Twitter on Wednesday.
Sheikh Hamdan, aged 75, was the brother of the current ruler of Dubai Sheikh Mohammed bin Rashid al-Maktoum.
Sheikh Hamdan had been unwell for some months.
According to Arab media, Sheikh Hamdan bin Rashid Al Maktoum was the longest-serving minister in the UAE Cabinet.
He had been Minister of Finance since the very first UAE Cabinet was formed on December 9, 1971.
The brother of Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, Sheikh Hamdan played an indispensable role in developing financial policies and government spending.
Sheikh Hamdan also presided over several high-level government entities that play a vital role in supporting the economy and labour market in the UAE. These include Dubai Municipality, Al Maktoum foundation, Dubai Aluminum (DUBAL) and Dubai Natural Gas Company Limited, Dubai World Trade Centre and others.
Under his watch, the economy of the Gulf state grown exponentially from just Dh6.5 billion in 1971 to Dh1.54 trillion. Similarly, GDP per capita has also grown from less than Dh10,000 to over Dh40,000.