Hawala Networks:
Hawala is an informal and traditional system of transferring money or value between individuals or businesses, primarily used in parts of the Middle East, South Asia, and North Africa. It operates outside of formal banking channels and relies on trust and the network of hawaladars (hawala dealers) who facilitate the transactions. In a hawala transaction, one party gives money to a hawaladar in one location, who then instructs another hawaladar in a different location to deliver an equivalent amount to the recipient. The system is based on a network of trust and honor, with minimal paperwork and a reliance on personal connections.