Access

You are not currently logged in.

Access your personal account or get JSTOR access through your library or other institution:

login

Log in to your personal account or through your institution.

If You Use a Screen Reader

This content is available through Read Online (Free) program, which relies on page scans. Since scans are not currently available to screen readers, please contact JSTOR User Support for access. We'll provide a PDF copy for your screen reader.

Hawala and Other Informal Value Transfer Systems: How to Regulate Them?

Nikos Passas
Risk Management
Vol. 5, No. 2, Special Issue: Regulation, Risk and Corporate Crime in a 'Globalised' Era (2003), pp. 49-59
Stable URL: http://www.jstor.org/stable/3867818
Page Count: 11
  • Read Online (Free)
  • Subscribe ($19.50)
  • Cite this Item
Since scans are not currently available to screen readers, please contact JSTOR User Support for access. We'll provide a PDF copy for your screen reader.
Hawala and Other Informal Value Transfer Systems: How to Regulate Them?
Preview not available

Abstract

Since the September 2001 attacks in the USA, 'terrorism' has leapt to the top of the Western political agenda. Within this context, as soon as the word 'hawala', in particular, was uttered in Congress, lawmakers, policy think-tanks and the media turned their attention to what they defined as a financial tool for terrorism. This knee-jerk response to hawala may have serious effects on age-old methods employed by Asian expatriates remitting funds to their families. Thus it is important to understand some of the basic facts about hawala: who are the clients, how much they are charged, why they do not use banks, the settlement processes involved, the division of labor, and so on. This paper offers a summary of the mechanics and settlement processes in hawala networks. It concludes with some policy implications.

Page Thumbnails

  • Thumbnail: Page 
49
    49
  • Thumbnail: Page 
50
    50
  • Thumbnail: Page 
51
    51
  • Thumbnail: Page 
52
    52
  • Thumbnail: Page 
53
    53
  • Thumbnail: Page 
54
    54
  • Thumbnail: Page 
55
    55
  • Thumbnail: Page 
56
    56
  • Thumbnail: Page 
57
    57
  • Thumbnail: Page 
58
    58
  • Thumbnail: Page 
59
    59