Finance Fundamentals - Hawala Money Transfer Explained

Did you know that there is an ancient method of transferring money across the globe that doesn’t rely on the physical movement of cash or a formal banking system? Not only that, this method allows global transactions to take place in literally a matter of minutes. Hawala first originated in 8th century South Asia as a means of transferring money from one place to another. It translates literally to ‘trust’ in Arabic, but it is also believed to have derived from words such as assignment or bill of exchange. In this video we aer going to look at its origins and history, how it works, who uses it, why it is attractive among certain criminal organisations, and if it has a legitimate place in today’s society or the near future. #hawala #moneytransfer #trust #banking #finance