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Informal Value Transfer System – Hawala

Author

Listed:
  • Ion Pohoata
  • Irina Caunic

    (Universitatea „Alexandru Ioan Cuza” Iasi)

Abstract

Hawala plays a key role in facilitating remittances, especially those of migrant workers and is an integral part of the international finance system. There was, however little understanding of the concept, mechanism and its impact on the global financial channels. This research effort aims at providing a historical background to its origin, and discusses why it has lasted over the last several hundred years. The paper also presents the operational features that make the system attractive for both legitimate and illegitimate uses and its advantages over formal sector.

Suggested Citation

  • Ion Pohoata & Irina Caunic, 2007. "Informal Value Transfer System – Hawala," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania - AGER, vol. 4(4(509)), pages 3-8, April.
    • Handle: RePEc:agr:journl:v:4(509):y:2007:i:4(509):p:3-8
    as

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