Regulatory Frameworks for Hawala and Other Remittance Systems

Seminar Volumes, March 24, 2005

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Regulatory Frameworks for Hawala and Other Remittance Systems

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Bibliographic details

• Published: March 24, 2005
• Series: Seminar Volumes
• DOI: https://doi.org/10.5089/9781589064232.072

Overview and Purpose

• Hawala and other remittance systems have gained attention in recent years with the substantial growth of remittance flows from countries with large migrant labor forces and with increased focus on combating money laundering and the financing of terrorism.
• The IMF and the World Bank have been researching these systems since 2002 to better understand the interplay of historical, cultural, and economic factors that promote such systems.
• This book is a survey of regulatory practices and an overview of experiences in different countries, and includes articles on regulatory frameworks in remitting and receiving countries and on the problems that can arise when regulating remittance systems.

Key Findings and Content Themes

• Survey of regulatory practices across remitting and receiving countries.
• Analysis of the interplay of historical, cultural, and economic factors that promote hawala and other remittance systems.
• Examination of problems that can arise when regulating remittance systems, including implications for anti-money laundering and combating the financing of terrorism (AML/CFT).

Subjects and Keywords (as provided)

• Subjects:
  • Anti-money laundering and combating the financing of terrorism (AML/CFT)
  • Balance of payments
  • Banking
  • Crime
  • Currencies
  • Money
  • Money laundering
  • Remittances
  • Terrorism financing
• Keywords:
  • Anti-money laundering and combating the financing of terrorism (AML/CFT)
  • Asia and Pacific
  • central bank of the U.A.E.
  • Currencies
  • East Africa
  • Global
  • IFT system
  • Money laundering
  • money remittance office
  • money transfer
  • MVT service
  • MVT services
  • regulation
  • remittance
  • Remittances
  • SEM
  • South Asia
  • Southern Africa
  • Terrorism financing
  • transaction

Access and Formats

• More Formats on IMF eLibrary
• Order a Print Copy
• Link to Abstract
• PDF available

International Monetary Fund. Regulatory Frameworks for Hawala and Other Remittance Systems (2005).

Content in this bundle

• Work of the IMF in Informal Funds Transfer Systems
  • Work of the IMF in Informal Funds Transfer Systems (Markdown version)
  • Work of the IMF in Informal Funds Transfer Systems (PDF)