hawala

English

Alternative forms

Etymology

From Arabic حَوَالَة‎ (ḥawāla, “transfer, trust”).

Pronunciation
  • IPA(key): /həˈwɑːlə/

Noun

hawala (countable and uncountable, plural hawalas)

  1. (Islamic finance) A long-established informal system of money transfer from India and the Middle East, still in use by migrant workers.

Derived terms

Translations

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