China’s $1.7 trillion hangover

China’s $1.7 trillion hangover

Up to 40% of China’s $1.7 trillion LGFV loans are at high risk of default. What’s a panicking Beijing to do?

The money network:

The money network:

Why crowdfunding threatens traditional bank lending

December 2002

Iqbal Khan


Chief executive officer, HSBC Amanah Finance


Iqbal Khan

Any investigation into Islamic finance will lead you to Iqbal Khan. Everybody in this fast-growing sector insists you must meet the man who has headed the Islamic finance operations of two global banking giants - Citigroup and HSBC - and who was a driving force behind the first Islamic global bond earlier this year.

Getting time with the CEO of HSBC's global Islamic finance arm is a challenge, though. The well-groomed and smooth-talking Khan seemed to have a third of the people at last month's Islamic finance conference in Malaysia hanging around him, another third looking for him, and the last third moving on having met him.

"The office here said I would not have time to meet you," says Khan in as friendly a way as possible, "but our PR manager in Dubai told me I had to."

Now based in...


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