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Regulating Hawala : informal remittances post 9/11 / Claire Beswick & Frederick Ahwireng-Obeng.

By: Contributor(s): Material type: TextSeries: Publisher: [London] : SAGE, 2016Description: 1 online resource : illustrations (black and white, and colour)Content type:
  • text
  • still image
Media type:
  • computer
Carrier type:
  • online resource
ISBN:
  • 9781473964938 (ebook) :
Subject(s): DDC classification:
  • 332.178 23
Online resources: In 2010, the officials of the Financial Action Task Force (FATF) were reviewing the problems of formalising informal financial systems in developing countries, and specifically addressing the hawala system in Africa. Hawala was a highly popular form of remittance transfer, especially where there were no banks or the banking system failed to offer clients ease of access and competitive costs. However, hawala was open to misuse as a means for both money laundering and the funding of terrorism. They wondered if and how the FATF could address these problems and whether its existing recommendations and interventions were sufficient.
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Originally Published in: Beswick, C., & Ahwireng-Obeng, F. (2013). Regulating Hawala: Informal Remittances Post 9/11. WBS-2013-18. Johannesburg: The Case Centre, Wits Business School.

In 2010, the officials of the Financial Action Task Force (FATF) were reviewing the problems of formalising informal financial systems in developing countries, and specifically addressing the hawala system in Africa. Hawala was a highly popular form of remittance transfer, especially where there were no banks or the banking system failed to offer clients ease of access and competitive costs. However, hawala was open to misuse as a means for both money laundering and the funding of terrorism. They wondered if and how the FATF could address these problems and whether its existing recommendations and interventions were sufficient.

Description based on online resource; title from home page (viewed on April 28, 2016).

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