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Eduncle posted an MCQ
October 13, 2019 • 20:04 pm 0 points
  • UGC NET
  • Commerce

What is Hawala ?

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    Eduncle Best Answer

    It is an informal way of transferring money based on verbal assurance. It is carried out by a huge network of brokers mainly located in Middle East, North Africa, The horn of Africa and the Indian Subcontinent.
    In simple words it is transfer of money without moving it, the process will have no traces or evidences left. Hawala system is mainly used to transfer money among long distant countries.

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