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The Hawala System

The Hawala System Time.com : A Banking System for the Terrorists The system, known as Hawala is widely used by terrorists and non-terrorists alike. It is a paperwork-free, Gestapo-free, and efficient money transfer system. It is a trustworthy mechanism used by millions of poor Indians working in the middle-east to send money to their illiterate families in India. While it is true that the Hawala system denies valuable foreign exchange deposits to the nations, that is the penalty for not providing an equally credible and efficient alternative. I am beginning to dislike the criticism of all non-western means of infrastructure (see my notes on the Madrassah system of education). The Hawala system is no way more evil or guilty than the secretive Swiss accounts popular in the western world. I standby the Hawala system beacuse it serves the underprivileged. Ayatollah Lankarani: The Rules of Hawala (Comments Disabled for Now. Sorry!) First Written: Wednesday, November 7, 2001 Last Modified: 1/26/2003

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