Open Daily: 10am - 10pm | Alley door pickup 10am - 7pm 3038 Hennepin Ave Minneapolis, MN
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  • Open Daily: 10am - 10pm
    Alley-side Pickup: 10am - 7pm

    3038 Hennepin Ave Minneapolis, MN
    612-822-4611

Open Daily: 10am - 10pm | Alley-side Pickup: 10am - 7pm
3038 Hennepin Ave Minneapolis, MN
612-822-4611
Hawala: An Informal Payment System and Its Use to Finance Terrorism

Hawala: An Informal Payment System and Its Use to Finance Terrorism

Mueller, Sebastian R.

Paperback

Investing & FinanceInternational Relations

ISBN10: 3865506569
ISBN13: 9783865506566
Publisher: Vdm Verlag
Published: Feb 1 2007
Pages: 84
Weight: 0.33
Height: 0.17 Width: 6.69 Depth: 9.61
Language: English
After the horrible attacks on September 11, 2001, an ancient informal money transfer system called hawala came under scrutiny for its possible involvement in the financing. This book explores what other, similar informal transfer systems exist, and what their percentage of total remittances is. After an analysis of its competitors, hawala is further explained through a sample transaction, followed by an insight on its bookkeeping. Later the institutional framework is analyzed and, most important, its considerable incentives to the customer are outlined. The work then tries to define the 'ideal' characteristics of a transfer system in respect to terrorist financing and explores the current and actual use of hawala to finance terrorism. How are the necessary funds generated and moved? A brief outlook into the future of terrorist financing will end this chapter. Being aware of the incentives to the regular customer as well as to the terrorist organizations to use hawala, the major policies to stop the financing of terrorism will be evaluated as to their efficiency. Are they enough to dry up terrorist funding?

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