Hawala

Hawala (Arabic: حوالة‎, meaning transfer), (also known as hundi) is an informal value transfer system based on the performance and honor of a huge network of money brokers, which are primarily located in the Middle East, North Africa, the Horn of Africa, and South Asia. It is basically a parallel or alternative remittance system that exists or operates outside of, or parallel to traditional banking or financial channels.

Read more about Hawala:  Origins, How Hawala Works, Post 9/11

Other articles related to "hawala":

Central Bank Of The Islamic Republic Of Iran - Payment Systems - Hawala
... Many Iranian businesses and individuals also rely on hawala, an informal trust-based money transfer system that exists in the Middle East and other ... and UN financial sanctions on Iran, the use of hawala by Iranians reportedly has increased ...
Hawala - Post 9/11
... See also Terrorist financing While Hawala has been discouraged in some U.S ... the American government suspected that some hawala brokers may have helped terrorist organizations to transfer money to fund their activities ... used to finance the assault were not sent through the hawala system, but rather by an official inter-bank wire transfer to a SunTrust Bank in Florida, where two of the ...
Hawala Scandal
... The Hawala scandal or hawala scam was an Indian political scandal involving payments allegedly received by politicians through four hawala brokers, the Jain brothers ... linked to militants in Kashmir led to a raid on hawala brokers, revealing evidence of large-scale payments to national politicians ... Narain), and yet the court cases of the Hawala scandal eventually all collapsed without convictions ...
Central Bureau Of Investigation - Criticism - Mishandling of Cases - Hawala Scandal
... In 1991 an arrest linked to militants in Kashmir led to a raid on hawala brokers, revealing evidence of large-scale payments to national politicians ... interest petition (see Vineet Narain), and yet the court cases of the Hawala scandal eventually all collapsed without convictions ...
Opium Production In Afghanistan - Production and Afghan Governance - Nexus Between The Drug Industry and Hawala
... There is an important nexus between drugs and hawala (informal money transfer system) in Afghanistan ... The UN analysis is based on interviews with a sample of 54 hawala dealers in the main centers of hawala activity of Afghanistan as well as during a visit to Peshawar, Pakistan ... In addition, interviews were conducted with users of the hawala system (drug dealers, businessmen, traders, international aid workers), regulators (government officials, central bank personnel), and formal ...