Wiktionary
n. A long-established informal system of money transfer from India and the Middle East, still in use by migrant workers.
WordNet
n. 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; "terrorists make extensive use of hawala"
Wikipedia
Hawala or Hewala (, meaning transfer), also known as hundi or - in Somali, xawala or xawilaad - is an informal value transfer system based on the performance and honour of a huge network of money brokers, primarily located in the Middle East, North Africa, the Horn of Africa, and the Indian subcontinent, operating outside of, or parallel to, traditional banking, financial channels, and remittance systems.
Usage examples of "hawala".
Bin Ladin relied on the established hawala networks operating in Pakistan, in Dubai, and throughout the Middle East to transfer funds efficiently.
Indeed, the surviving plot participants have either not mentioned hawala or have explicitly denied using it to send money to the United States.
The challenge was to foil plots without revealing that the storefront hawala was owned by CIA.
Qaeda money flows depended on an informal network of hawalas and Islamic institutions moving money from Gulf supporters to Afghanistan.
He ran a chain of hawalas, storefront banks, and wire transfer stations across South Asia and Europe.
Hawalas typically do not have a large central control office for settling transactions, maintaining instead a loose association with other hawaladars to transfer value, generally without any formal or legally binding agreements.