HAWALA

Pronunciation (US):

(GB):

 I. (noun) 

Sense 1

Meaning:

An underground banking system based on trust whereby money can be made available internationally without actually moving it or leaving a record of the transaction

Example:

terrorists make extensive use of hawala

Classified under:

Nouns denoting groupings of people or objects

Hypernyms ("hawala" is a kind of...):

banking industry; banking system (banks collectively)

Domain category:

act of terrorism; terrorism; terrorist act (the calculated use of violence (or the threat of violence) against civilians in order to attain goals that are political or religious or ideological in nature; this is done through intimidation or coercion or instilling fear)

Credits