On Monday, India Today had carried an investigative report on how crores of rupees of black money are being transferred via the hawala
route to poll bound Bihar.
Any wide discrepancies could be indicative of trade fraud (including TBML), corruption, or the back door to underground remittance systems and informal value transfer systems, such as hawala
or hundi is a method of remitting foreign exchange to a home country through a broker instead of through legal banking channels.
The Pakistan-based hawala
, Haji Basir and Zarjmil Company (Basir Zarjmil Hawala
), and, its owner, Haji Abdul Basir, are being designated for providing financial services or other support to the Taliban.
by Lalit J Kha on 22 August, 2014 - 10:58 WASHINGTON (Pajhwok): A Pakistan-based Taliban commander, along with four leaders of a Balochistan hawala
network, has been designated as global terrorists by the US because of their terrorist activities inside Afghanistan.
28 ( ANI ): Congress on Monday, sought an answer from the Bharatiya Janata Party (BJP) and its prime ministerial candidate Narendra Modi for his alleged 'covert relationship, protection and friendship with one of the biggest hawala
rackets unearthed a few days back' which raises serious questions.
ORIGINATING in ancient Islamic law, the Hawala
system operates through huge numbers of money lenders across the Middle East - and principles of honour through family and religion.
AlBorsa revealed last May that the council of ministers agreed to a reconciliation between the General Authority for Touristic Development and Hawala
, a company that operates under the Travco umbrella, to settle a dispute over land contracts of 5 million square metres that the authority had previously repossessed.
Summary: In yet another step to keep Lebanon's money exchange businesses under its control, the Lebanese Central Bank has forbidden small money changers from performing cash transfers under the informal Hawala
However, the hawala
system need larger banks to help balance the books with larger transfers.
is a mode of transfer of money where a person tells a hawala
agent, who is part of a hawala
network, that he needs a certain amount of money to be delivered to someone in a different country.
Non-Commercial Family Remittances and the Hawala
, MD for Epangelo said: " Aussinanis is a relatively small operation by world standards and we believe that the costs will be moderate.
Raids to regulations; the continuing struggle to disrupt illicit hawala
also commended the services extended by women guides to the pilgrims.