A hawala is a

Question

A hawala is a

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A hawala is a system of informal value transfer and remittance originating in the Middle East and commonly used by migrant workers living abroad. The system operates outside of traditional banking channels and is based on trust between hawaladars, or agents, who facilitate the transfer of funds between individuals in different countries. Hawaladars settle their transactions by means of reciprocal transfers of money among themselves or through other informal channels, such as trade or smuggling. Hawaladars do not, in general, lend money, although they may hold funds for short periods of time before they are settled.

A Hawala Is a