Definitions for hawala
hawala

Princeton's WordNetRate this definition:0.0 / 0 votes

1. hawalanoun

   an underground banking system based on trust whereby money can be made available internationally without actually moving it or leaving a record of the transaction

   "terrorists make extensive use of hawala"

WiktionaryRate this definition:0.0 / 0 votes

1. hawalanoun

   A long-established, informal system of money transfer from India and the Middle East, still in use by migrant workers.

2. Etymology: From حوالة

WikipediaRate this definition:0.0 / 0 votes

1. Hawala

   Hawala or hewala (Arabic: حِوالة ḥawāla, meaning transfer or sometimes trust), 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). They operate outside of, or parallel to, traditional banking, financial channels and remittance systems. The system requires a minimum of two hawaladars that take care of the "transaction" without the movement of cash or telegraphic transfer. While hawaladars are spread throughout the world, they are primarily located in the Middle East, North Africa, the Horn of Africa and the Indian subcontinent. Hawala follows Islamic traditions but its use is not limited to Muslims.

ChatGPTRate this definition:0.0 / 0 votes

1. hawala

   Hawala is an informal and traditional system of money transfer originating in the Middle East and South Asia. It operates outside traditional banking channels and involves the transfer of money or property from one party to another party through a network of intermediaries, known as hawaladars. It's based on trust and relationships and often used by migrant workers to send remittances to their home countries, typically where lower levels of banking infrastructure exist. It's characterized for being quick, cost-effective and, in certain regions, provides a more reliable means of transferring funds than the formal banking system. The system can however also be used for illicit activities such as money laundering due to its anonymity.

WikidataRate this definition:0.0 / 0 votes

1. Hawala

   Hawala, also known as hundi, is an informal value transfer system based on the performance and honour of a huge network of money brokers, which are primarily located in the Middle East, North Africa, the Horn of Africa, and the Indian subcontinent. It is basically a parallel or alternative remittance system that exists or operates outside of, or parallel to traditional banking or financial channels.

Matched Categories

1. • Banking Industry
   • Terrorism

How to pronounce hawala?

1. Alex

   US English

   David

   US English

   Mark

   US English

   Daniel

   British

   Libby

   British

   Mia

   British

   Karen

   Australian

   Hayley

   Australian

   Natasha

   Australian

   Veena

   Indian

   Priya

   Indian

   Neerja

   Indian

   Zira

   US English

   Oliver

   British

   Wendy

   British

   Fred

   US English

   Tessa

   South African

How to say hawala in sign language?

Numerology

1. Chaldean Numerology

   The numerical value of hawala in Chaldean Numerology is: 8

2. Pythagorean Numerology

   The numerical value of hawala in Pythagorean Numerology is: 1

Examples of hawala in a Sentence

1. David Rubincam:

   David Rubincam remains certain about the radical motivation of the then-imam from Mohamed Ibrahim. David Rubincam’s an extremist religious zealot of the worst kind … David Rubincam went to the University of al-Madinah in Saudi Arabia. David Rubincam was educated as an Islamic religious scholar. mohamed Ibrahim was over here to raise money through the Hawala system of -- of money transfer to fund them overseas and to recruit people to their cause to actually go back to Somalia to take up arms or go into Ethiopia and take up arms.

Popularity rank by frequency of use

References

1. ^ Princeton's WordNet
   http://wordnetweb.princeton.edu/perl/webwn?s=hawala
2. ^ Wiktionary
   https://en.wiktionary.org/wiki/Hawala
3. ^ Wikipedia
   https://en.wikipedia.org/wiki/Hawala
4. ^ ChatGPT
   https://chat.openai.com
5. ^ Wikidata
   https://www.wikidata.org/w/index.php?search=hawala