(Karachi) The deputy ruler of Dubai and UAE finance minister, Sheikh Hamdan Bin Rashid Al Maktoum, passed away on Wednesday morning.

Sharing the tragic news on his twitter page, Dubai ruler, Vice-President and Prime Minister of the United Arab Emirates (UAE), Sheikh Mohammed bin Rashid, said: "We belong to God and to Him we shall return … May God have mercy on you, my brother, my support and my companion.”

As per media reports, Hamdan had been unwell for the last few months.

Sheikh Hamdan bin Rashid Al Maktoum was born on December 25, 1945, and became the UAE’s first finance minister in 1971, the position he had until his death. He played a pivotal role in developing financial policies and government ‎spending.

Sheikh Hamdan had received three certificates from ‎the Royal British College in 2006, making him the first personality to attain such a distinction. He was also granted Honorary fellowship for Internal Medicine from the Royal ‎British College-London, -Edinburgh, and -Glasgow.