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  • noun

Words related to hawala

an underground banking system based on trust whereby money can be made available internationally without actually moving it or leaving a record of the transaction

References in periodicals archive ?
But there is a clear distinction between the small amount of hawala banking done by Basra and the vast sums of 'dirty money' he laundered.
Indian gangsters find Jumeirah Beach more agreeable than prison in Bombay or Bangalore, while others from the Sub-continent do a roaring trade in informal hawala banking, for which Dubai is the world capital.