Concept information
Preferred term
informal value transfer systems
Definition
- Informal value transfer systems or underground banking systems are often better known as hawala, a remittance system that developed during the Abbasid caliphate (c. 750–945 c.e., 133–334 Hijra), centuries before the invention of free-market capitalism. [Source: Encyclopedia of Transnational Crime & Justice; Informal Value Transfer Systems]
Broader concept
Belongs to group
URI
https://concepts.sagepub.com/social-science/concept/informal_value_transfer_systems
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