The Money Exchange Dealers of Kabul : A Study of the Hawala System in Afghanistan
Money convenient, and inexpensive means of transferring funds into Afghanistan and among its provinces. They offer a diverse range of financial and non-financial business services at the local, regional, and international level. More recently, they...
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| Format: | Publication |
| Language: | English en_US |
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Washington, DC: World Bank
2013
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| Online Access: | http://documents.worldbank.org/curated/en/2003/08/2613565/money-exchange-dealers-kabul-study-hawala-system-afghanistan http://hdl.handle.net/10986/15087 |
| Summary: | Money convenient, and inexpensive means
of transferring funds into Afghanistan and among its
provinces. They offer a diverse range of financial and
non-financial business services at the local, regional, and
international level. More recently, they have been
instrumental in providing financial services for the
delivery of emergency relief and humanitarian and
developmental aid into Afghanistan for the majority of
international and domestic NGOs, donor organizations, and
development aid agencies. This study was undertaken to: (1)
determine the current practice of hawala in Afghanistan; (2)
verify the assertions regarding the convenience, speed, and
cost-effectiveness of hawala transactions in comparison with
formal financial institutions such as the central bank and
the remaining state banks; (3) evaluate the use of money
exchange dealers to remit development funds to regions that
are not served by formal financial institutions; (4)
identify the operational characteristics that make the
hawala system vulnerable to financial abuse; and (5)
consider the appropriate regulatory and supervisory options
for informal funds transfer systems in Afghanistan. |
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