Curbing the use of Hawala for money laundering and terrorist financing: global regulatory response and future challenges
by M. Nauman Farooqi
International Journal of Business Governance and Ethics (IJBGE), Vol. 5, No. 1/2, 2010

Abstract: The objective of this paper is to examine the role of Hawala as an Informal Value Transfer System (IVTS) used for money laundering and terrorist financing activities. The paper will provide a background to Hawala as a form of IVTS and highlight the state of global regulatory response to curbing the illicit use of this otherwise benign form of IVTS. The paper will argue for a market mechanism based solution rather than control through regulatory regimes.

Online publication date: Mon, 30-Nov-2009

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