Hawala

Hawala is an informal value transfer system based on the performance and honor of a network of money brokers who use their own accounts to transfer money without it physically moving.

Why it’s in the news: It is in the news as a historical alternative to modern financial systems like Swift, highlighting the long-standing challenge of moving money safely.

Latest on Hawala

• From Hawala to Swift: Inside the 1,000-year battle to move money safely

Connections

2 entities linked to Hawala across the news graph.