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Hawala in India: A treasure trove of learning

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Vivek Mishra
Vivek Mishra
Vivek Mishra is the Certified Anti Money Laundering Expert and the columnist for Newsinterpretation.

The word “Hawala” means trust. It is an alternative or parallel remittance system, which works outside the purview of regulations.

Hawala is an ancient system of money transfer that originated in South Asia and is now being used across the globe. Hawala was created centuries ago in India and China before Western financial systems were established to facilitate the secure and convenient movement of funds.

Merchant traders wishing to send funds to their homelands would deposit them with a hawala broker or hawaladar who normally owned a trading......

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