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Shreyas Ramdasi
Mechanical Engineer • 1y
Hawala is indeed a controversial and illegal method of transferring money that operates outside of traditional banking systems. Here's a brief overview: Hawala works through a network of brokers (hawaladars) who accept money in one location and make it available in another, often without any physical movement of cash. The process typically involves the sender (A in your example) giving money to a local hawaladar (C) who then contacts another hawaladar (possibly in a different country or region) to deliver the funds to the recipient (B), based on a pre-agreed secret code or passphrase. Hawaladars charge a fee or commission for their services, which is typically a percentage of the amount being transferred. They make money through this fee, and the secrecy of the transactions makes it challenging for authorities to track and regulate. Governments around the world have been trying to crack down on hawala due to its association with illegal activities such as money laundering and fundin
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