Editing Hawala (section)

{{Short description|Informal currency transfer system}}
{{For|illegal use of hawala|hawala and crime}}
{{For |the community in the Persian Gulf states|Huwala}}
{{Financial market participants}}

'''Hawala''' or '''hewala''' ({{langx|ar|حِوالة}} {{lang|ar-Latn|ḥawāla}}, meaning ''transfer'' or sometimes ''trust''), originating in India as '''havala''' ({{langx|hi|हवाला}}), also known as '''{{lang|fa-Latn|havaleh}}''' in [[Persian language|Persian]],<ref>{{Cite web|title=How Iranians are avoiding sanctions|url=https://www.ft.com/content/6ca69788-0a48-11dd-b5b1-0000779fd2ac|url-status=live | access-date=2018-07-31| archive-date=2018-07-31|archive-url=https://web.archive.org/web/20180731031418/https://www.ft.com/content/6ca69788-0a48-11dd-b5b1-0000779fd2ac}}</ref> and '''{{lang|so|xawala}}''' or '''{{lang|so|xawilaad}}'''<ref name=HMGov>{{Cite web | author1=Edwina Thompson |title=Safer corridors rapid assessment - Somalia and UK banking |date=September 2013 |publisher=HM Government |page=5 |url=https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/283826/SAFER_CORRIDORS_RAPID_ASSESSMENT__2013__SOMALIA___UK_BANKING.PDF |access-date=14 May 2016 |archive-date=10 October 2015 |archive-url=https://web.archive.org/web/20151010082903/https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/283826/SAFER_CORRIDORS_RAPID_ASSESSMENT__2013__SOMALIA___UK_BANKING.PDF |url-status=live }}</ref> in [[Somali language|Somali]], is a popular and [[informal value transfer system]] based on the performance and honour of a huge network of money brokers (known as ''hawaladars''). They operate outside of, or parallel to, traditional banking, financial channels and [[remittance]] systems. The system requires a minimum of two  hawaladars that take care of the "transaction" without the movement of cash or [[telegraphic transfer]]. While hawaladars are spread throughout the world, they are primarily located in the [[Middle East]], [[North Africa]], the [[Horn of Africa]] and the [[Indian subcontinent]]. Hawala follows [[Islam]]ic traditions but its use is not limited to [[Muslims]].<ref name="Vaknin">{{Cite web |last1=Vaknin |first1=Sam |title=Hawala, or the Bank that Never Was |url=http://samvak.tripod.com/nm104.html |website=samvak.tripod.com |access-date=5 September 2017 |date=June 2005 |archive-url=https://web.archive.org/web/20170920054104/http://samvak.tripod.com/nm104.html |archive-date=20 September 2017 |url-status=dead }}</ref>