Hawala
Informal value transfer system which follows Islamic traditions
Nº Q1123811 ★★★★
Super Rare · History
Hawala
Informal value transfer system which follows Islamic traditions
Hawala or hewala (Arabic: حِوالة, romanized: Ḥawāla, lit. 'transfer, trust'), originating in India as havālā (Hindi: हवाला) or huṇḍī (Hindi: हुण्डी, romanized: Huṇḍī, Sanskrit: हुण्डिका, romanized: Huṇḍikā, lit. 'bill of exchange, draft, or promissory note'), also known as ḥavâleh in Persian, and xawala or xawilaad in Somali, is a popular and informal value transfer system based on the performance and honour of a huge network of money brokers (known as hawaladars). Hawala operates alongside conventional banking and remittance services.
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From Wikipedia
Hawala or hewala (Arabic: حِوالة, romanized: Ḥawāla, lit. 'transfer, trust'), originating in India as havālā (Hindi: हवाला) or huṇḍī (Hindi: हुण्डी, romanized: Huṇḍī, Sanskrit: हुण्डिका, romanized: Huṇḍikā, lit. 'bill of exchange, draft, or promissory note'), also known as ḥavâleh in Persian, and xawala or xawilaad in Somali, is a popular and informal value transfer system based on the performance and honour of a huge network of money brokers (known as hawaladars). Hawala operates alongside conventional banking and remittance services. It is historically associated with South Asia and the Middle East and is used by migrant communities to send money home.
Text: Wikipédia, CC BY-SA 4.0. · Image: Elembis (Public domain) ·
