HALAWA

HALAWA

halawa (h[schwa]-lah-w[schwa]), n. [Hindi] A system for transferring money, usu. across national borders, based on trust and operating through networks based on family relationships or on regional or ethnic affiliations rather than through banks and financial institutions. ? The system originated in India before the introduction of western banking practices. It is commonly used in immigrant communities. In Indian and Pakistani usage, ¡°white halawa¡± refers to legitimate transactions and ¡°black halawa¡± refers to money-laundering. ¡ª Also termed hundi.
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