Banker calls for Dh25bn boost

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A top banker called for up to Dh25 billion in further government injections into banks yesterday, raising fears the financial sector has yet to emerge from the recession.

Banks want the cash to revive lending to businesses and consumers after setting aside ever larger amounts of money to cushion against unpaid loans.

Hussain al Qemzi, the chief executive of the Dubai-based Noor Islamic Bank, said the banking system could need as much as Dh25 billion on top of Dh120bn already spent on shoring up bank finances since 2008.