In the juristic sense, hawalah is a special type of security contract which simply means debt assignment.

Name: In the juristic sense, hawalah is a special type of security contract which simply means debt assignment.
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Hawalah is a mechanism within Islamic finance where the responsibility for a debtor's debt is transferred to a third party, effectively assigning the debt from the original debtor to the new party. This facilitates the settlement of debt without the physical exchange of currency.

In the Juristic Sense, Hawalah Is a Special Type of Security