The United Arab Emirates' cabinet has approved 2 billion dirhams ($544.60 million) to deal with damage to homes from last week's storm, Prime Minister and Dubai ruler Sheikh Mohammed bin Rashid al-Maktoum said on Wednesday.

The UAE suffered the heaviest rains this month in 75 years, causing widespread flooding which trapped residents in traffic, offices and homes, and leaving many people counting the cost of damage to vehicles and property.

Rains are uncommon in the UAE, which is known for its hot desert climate and temperatures that can soar above 50 degrees Celsius in the summer.

President Sheikh Mohammed bin Zayed Al Nahyan ordered authorities last week to assess the damage and provide support to families impacted by the storm, UAE state news agency (WAM) had said.

($1 = 3.6724 UAE dirham)

(Reporting by Ahmed Elimama; Writing by Nayera Abdallah; Editing by Alison Williams and Jan Harvey)