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hawala
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The answer HAWALA has 1 possible clue(s) in existing crosswords.
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Definitions of hawala in various dictionaries:
noun - an underground banking system based on trust whereby money can be made available internationally without actually moving it or leaving a record of the transaction
noun - a type of financial arrangement in Islamic societies
HAWALA - Hawala or hewala (Arabic: , meaning transfer or sometimes trust), also known as havaleh in Persian, or hundi orin Somali, xawala or xawilaadis a popu...
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| Possible Crossword Clues |
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| Informal banking system |
| Last Seen in these Crosswords & Puzzles |
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| Mar 15 2009 Boston Globe |
| Possible Dictionary Clues |
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| A system for remitting money, primarily in Islamic societies, in which a financial obligation between two parties is settled by transferring it to a third party, as when money owed by a debtor to a creditor is paid by a person who owes the debtor money. Hawala transactions are usually based on trust and leave no written record. |
| an underground banking system based on trust whereby money can be made available internationally without actually moving it or leaving a record of the transaction |
| A traditional system of transferring money used in Arab countries and South Asia, whereby the money is paid to an agent who then instructs an associate in the relevant country or area to pay the final recipient. |
| Hawala description |
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| Hawala or hewala (Arabic: , meaning transfer or sometimes trust), also known as havaleh in Persian, or hundi orin Somali, xawala or xawilaadis a popular and informal value transfer system based not on the movement of cash, or on telegraph or computer network wire transfers between banks, but instead on the performance and honour of a huge network of money brokers (known as "hawaladars"). While hawaladars are spread throughout the world, they are primarily located in the Middle East, North Africa, the Horn of Africa, and the Indian subcontinent, operating outside of, or parallel to, traditional banking, financial channels, and remittance systems. Hawala follows Islamic traditions but its use is not limited to Muslims. |