Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

Since the terrorist attacks of September 11, 2001, there has been increased public interest in informal funds transfer (IFT) systems. This paper examines the informal hawala system, an IFT system found predominantly in the Middle East and South Asia. The paper examines the historical and socioeconomic context within which the hawala has evolved, the operational features that make it susceptible to potential financial abuse, the fiscal and monetary implications for hawala-remitting and hawala-recipient countries, and current regulatory and supervisory responses.

Hawala system. --- Banks and banking. --- Banking law. --- Money laundering. --- Laundering of money --- Money washing --- Washing of money --- Commercial crimes --- Banks and banking --- Law, Banking --- Financial institutions --- Agricultural banks --- Banking --- Banking industry --- Commercial banks --- Depository institutions --- Finance --- Money --- Hundi system --- Law and legislation --- Banks and Banking --- Exports and Imports --- Money and Monetary Policy --- Industries: Financial Services --- Criminology --- Foreign Exchange --- Banks --- Depository Institutions --- Micro Finance Institutions --- Mortgages --- Monetary Systems --- Standards --- Regimes --- Government and the Monetary System --- Payment Systems --- Remittances --- Financial Institutions and Services: General --- Illegal Behavior and the Enforcement of Law --- Monetary economics --- International economics --- Corporate crime --- white-collar crime --- Currency --- Foreign exchange --- Currencies --- Financial sector --- Balance of payments --- Economic sectors --- International finance --- Financial services industry --- Money laundering --- India --- White-collar crime