Quotes of the day:
All that glitters is not gold, and things that look warm are often cold!
Hawala is an informal method of transferring money without any physical money actually moving. Interpol’s definition of hawala is money transfer without money movement. Another definition is simply trust. Hawala is used today as an alternative remittance channel that exists outside of traditional banking systems. Transactions between hawala brokers are made without promissory notes because the system is heavily based on trust and the balancing of hawala brokers’ books.