hawala

[US]/həˈwɑːlə/
[UK]/həˈwɑlə/
Frequency: Very High

Translation

n.a system of transferring money without any physical money movement, often used in informal and underground markets
Word Forms
Pluralhawalas

Phrases & Collocations

hawala system

hawala transfer

hawala network

hawala broker

hawala service

hawala money

hawala operator

hawala transaction

hawala channel

hawala method

Example Sentences

hawala is often used for transferring money quickly.

the hawala system operates outside traditional banking.

many expatriates rely on hawala for remittances.

hawala transactions are based on trust and personal connections.

some people view hawala as an informal money transfer network.

hawala can be a cost-effective way to send money abroad.

regulations around hawala vary from country to country.

hawala is often used in regions with limited banking access.

understanding hawala is important for financial literacy in some communities.

people often discuss the risks associated with hawala.

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