Hawala, the Glossary
Hawala or hewala (حِوالة ḥawāla, meaning transfer or sometimes trust), originating in India as havala (हवाला), also known as havaleh 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).[1]
Table of Contents
50 relations: American Journal of Comparative Law, Anonymity, Central Intelligence Agency, Civil law (common law), Common law, Counterterrorism, Debt, Dubai, Exchange rate, Financial Action Task Force, Financial Action Task Force blacklist, Financial services, Financial transaction, Hawala and crime, Hawala scandal, Honor system, Horn of Africa, Indian subcontinent, Informal value transfer system, International Monetary Fund, International Review of Financial Analysis, Islam, Jizya, Law of agency, Law of France, Law of Portugal, Macroeconomics, Middle East, Money laundering, Muslims, Negotiable instrument, North Africa, Persian language, Promissory note, Regulation, Remittance, Remittances to India, Reserve Bank of India, Riba, Roman law, Sam Vaknin, Scrutiny, September 11 attacks, Side job, Somali language, Telegraphic transfer, Terrorism financing, Tuareg rebellion (2012), Voice of America, Zakat.
- Informal value transfer systems
- Islamic financial contracts
- Remittances
American Journal of Comparative Law
The American Journal of Comparative Law (AJCL) is a quarterly, peer-reviewed law journal devoted to comparative and transnational legal studies—including, among other subjects, comparative law, comparative and transnational legal history and theory, private international law and conflict of laws, and the study of legal systems, cultures, and traditions other than those of the United States.
See Hawala and American Journal of Comparative Law
Anonymity
Anonymity describes situations where the acting person's identity is unknown.
Central Intelligence Agency
The Central Intelligence Agency (CIA), known informally as the Agency, metonymously as Langley and historically as the Company, is a civilian foreign intelligence service of the federal government of the United States tasked with gathering, processing, and analyzing national security information from around the world, primarily through the use of human intelligence (HUMINT) and conducting covert action through its Directorate of Operations.
See Hawala and Central Intelligence Agency
Civil law (common law)
Civil law is a major "branch of the law", for example in common law legal systems such as those in England and Wales and in the United States, where it stands in contrast to criminal law.
See Hawala and Civil law (common law)
Common law
Common law (also known as judicial precedent, judge-made law, or case law) is the body of law created by judges and similar quasi-judicial tribunals by virtue of being stated in written opinions.
Counterterrorism
Counterterrorism (alternatively spelled: counter-terrorism), also known as anti-terrorism, relates to the practices, military tactics, techniques, and strategies that governments, law enforcement, businesses, and intelligence agencies use to combat or eliminate terrorism.
See Hawala and Counterterrorism
Debt
Debt is an obligation that requires one party, the debtor, to pay money borrowed or otherwise withheld from another party, the creditor.
See Hawala and Debt
Dubai
Dubai (translit) is the most populous city in the United Arab Emirates (UAE) and the capital of the Emirate of Dubai, the most populated of the country's seven emirates.
See Hawala and Dubai
Exchange rate
In finance, an exchange rate is the rate at which one currency will be exchanged for another currency.
Financial Action Task Force
The Financial Action Task Force (on Money Laundering) (FATF, aka "Faftee"), also known by its French name, Groupe d'action financière (GAFI), is an intergovernmental organisation founded in 1989 on the initiative of the G7 to develop policies to combat money laundering and to maintain certain interest.
See Hawala and Financial Action Task Force
Financial Action Task Force blacklist
The Financial Action Task Force blacklist (often abbreviated to FATF blacklist, and officially known as the "Call for action"),, FATF, accessed 24 October 2019.
See Hawala and Financial Action Task Force blacklist
Financial services
Financial services are economic services tied to finance provided by financial institutions.
See Hawala and Financial services
Financial transaction
A financial transaction is an agreement, or communication, between a buyer and seller to exchange goods, services, or assets for payment. Hawala and financial transaction are payment systems.
See Hawala and Financial transaction
Hawala and crime
Hawala and crime describes notable examples of hawala used in money laundering.
See Hawala and Hawala and crime
Hawala scandal
The Hawala scandal, also called the Jain Diaries case or the hawala scam, was an Indian political and financial scandal involving payments allegedly sent by politicians (black money) through four hawala brokers, namely the Jain brothers.
Honor system
An honor system, trust system or honesty system is a way of running a variety of endeavors based on trust, honor, and honesty.
Horn of Africa
The Horn of Africa (HoA), also known as the Somali Peninsula, is a large peninsula and geopolitical region in East Africa.
Indian subcontinent
The Indian subcontinent is a physiographical region in Southern Asia, mostly situated on the Indian Plate, projecting southwards into the Indian Ocean from the Himalayas.
See Hawala and Indian subcontinent
Informal value transfer system
An informal value transfer system (IVTS) is any system, mechanism, or network of people that receives money for the purpose of making the funds or an equivalent value payable to a third party in another geographic location, whether or not in the same form. Hawala and informal value transfer system are informal value transfer systems.
See Hawala and Informal value transfer system
International Monetary Fund
The International Monetary Fund (IMF) is a major financial agency of the United Nations, and an international financial institution funded by 190 member countries, with headquarters in Washington, D.C. It is regarded as the global lender of last resort to national governments, and a leading supporter of exchange-rate stability.
See Hawala and International Monetary Fund
International Review of Financial Analysis
The International Review of Financial Analysis is a bimonthly peer-reviewed academic journal in the field of finance.
See Hawala and International Review of Financial Analysis
Islam
Islam (al-Islām) is an Abrahamic monotheistic religion centered on the Quran and the teachings of Muhammad, the religion's founder.
See Hawala and Islam
Jizya
Jizya (jizya), or jizyah, is a tax historically levied on dhimmis, that is, protected non-Muslim subjects of a state governed by Islamic law.
See Hawala and Jizya
Law of agency
The law of agency is an area of commercial law dealing with a set of contractual, quasi-contractual and non-contractual fiduciary relationships that involve a person, called the agent, who is authorized to act on behalf of another (called the principal) to create legal relations with a third party.
Law of France
French law has a dual jurisdictional system comprising private law (droit privé), also known as judicial law, and public law (droit public).
Law of Portugal
The Law of Portugal is part of the family of what in English-speaking countries are sometimes called the "civil law" legal systems, referring to legal systems that developped at least in conversation or close ties with systems influenced by the ius commune medieval European tradition of Roman law (however, Scandinavian legal systems are often counted as such, despite the former not penetrating in influence, as opposed to local North Germanic customary law).
See Hawala and Law of Portugal
Macroeconomics
Macroeconomics is a branch of economics that deals with the performance, structure, behavior, and decision-making of an economy as a whole.
Middle East
The Middle East (term originally coined in English Translations of this term in some of the region's major languages include: translit; translit; translit; script; translit; اوْرتاشرق; Orta Doğu.) is a geopolitical region encompassing the Arabian Peninsula, the Levant, Turkey, Egypt, Iran, and Iraq.
Money laundering
Money laundering is the process of illegally concealing the origin of money, obtained from illicit activities such as drug trafficking, corruption, embezzlement or gambling, by converting it into a legitimate source.
See Hawala and Money laundering
Muslims
Muslims (God) are people who adhere to Islam, a monotheistic religion belonging to the Abrahamic tradition.
Negotiable instrument
A negotiable instrument is a document guaranteeing the payment of a specific amount of money, either on demand, or at a set time, whose payer is usually named on the document. Hawala and negotiable instrument are payment systems.
See Hawala and Negotiable instrument
North Africa
North Africa (sometimes Northern Africa) is a region encompassing the northern portion of the African continent. There is no singularly accepted scope for the region, and it is sometimes defined as stretching from the Atlantic shores of the Western Sahara in the west, to Egypt and Sudan's Red Sea coast in the east.
Persian language
Persian, also known by its endonym Farsi (Fārsī|), is a Western Iranian language belonging to the Iranian branch of the Indo-Iranian subdivision of the Indo-European languages.
See Hawala and Persian language
Promissory note
A promissory note, sometimes referred to as a note payable, is a legal instrument (more particularly, a financing instrument and a debt instrument), in which one party (the maker or issuer) promises in writing to pay a determinate sum of money to the other (the payee), either at a fixed or determinable future time or on demand of the payee, under specific terms and conditions.
See Hawala and Promissory note
Regulation
Regulation is the management of complex systems according to a set of rules and trends.
Remittance
A remittance is a non-commercial transfer of money by a foreign worker, a member of a diaspora community, or a citizen with familial ties abroad, for household income in their home country or homeland. Hawala and remittance are remittances.
Remittances to India
Remittances to India are money transfers (called remittance) from non-resident Indians (NRIs) employed outside the country to family, friends or relatives residing in India. Hawala and remittances to India are remittances.
See Hawala and Remittances to India
Reserve Bank of India
The Reserve Bank of India, abbreviated as RBI, is India's central bank and regulatory body responsible for regulation of the Indian banking system.
See Hawala and Reserve Bank of India
Riba
Riba (ربا,الربا، الربٰوة, or) is an Arabic word used in Islamic law and roughly translated as "usury": unjust, exploitative gains made in trade or business.
See Hawala and Riba
Roman law
Roman law is the legal system of ancient Rome, including the legal developments spanning over a thousand years of jurisprudence, from the Twelve Tables, to the (AD 529) ordered by Eastern Roman emperor Justinian I. Roman law forms the basic framework for civil law, the most widely used legal system today, and the terms are sometimes used synonymously.
Sam Vaknin
Shmuel "Sam" Vaknin (born April 21, 1961) is an Israeli writer and professor of psychology.
Scrutiny
Scrutiny (French: scrutin; Late Latin: scrutinium; from scrutari, meaning "those who search through piles of rubbish in the hope of finding something of value" and originally from the Latin "scruta," meaning "broken things, rags, or rubbish.") is a careful examination or inquiry (often implying the search for a likely mistake or failure).
September 11 attacks
The September 11 attacks, commonly known as 9/11, were four coordinated Islamist terrorist suicide attacks carried out by al-Qaeda against the United States in 2001.
See Hawala and September 11 attacks
Side job
A side job, also informally called a side hustle or side gig, is an additional job that a person takes in addition to their primary job in order to supplement their income.
Somali language
Somali (Latin script: Af-Soomaali; Wadaad:; Osmanya: 𐒖𐒍 𐒈𐒝𐒑𐒛𐒐𐒘) is an Afroasiatic language belonging to the Cushitic branch.
See Hawala and Somali language
Telegraphic transfer
Telegraphic Transfer or telex transfer, often abbreviated to TT, is a term used to refer to an electronic funds transfer.
See Hawala and Telegraphic transfer
Terrorism financing
Terrorism financing is the provision of funds or providing financial support to individual terrorists or non-state actors.
See Hawala and Terrorism financing
Tuareg rebellion (2012)
The 2012 Tuareg rebellion was the early phase of the Mali War; from January to April 2012, a war was waged against the Malian government by rebels with the goal of attaining independence for the northern region of Mali, known as Azawad.
See Hawala and Tuareg rebellion (2012)
Voice of America
Voice of America (VOA or VoA) is an international radio broadcasting state media agency owned by the United States of America.
See Hawala and Voice of America
Zakat
Zakat (or Zakāh) is one of the five pillars of Islam.
See Hawala and Zakat
See also
Informal value transfer systems
- Al-Barakat
- Angadia
- Dahabshiil
- Hawala
- Informal value transfer system
- Mahmoud Reza Banki
- United States v. Banki
Islamic financial contracts
Remittances
- Cultural remittances
- Gifting remittances
- Hawala
- International mobile remittance
- List of countries by remittances received
- Merchantrade Asia
- Olof Adolf Sjöström
- Remittance
- Remittances from the United States
- Remittances to Azad Kashmir
- Remittances to Bangladesh
- Remittances to India
- Remittances to Nepal
References
[1] https://en.wikipedia.org/wiki/Hawala
Also known as Hawala banking, Hawaladar, Hawalah, Hewala, Xawala, Xawilaad.