HAWALA.TODAY
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Hawalla:
– an old-established, informal system of money transfer from India and the Middle East, still in use by migrant workers.
The name HAWALA is quite a clever one, especially when discussing it in the context of a new Crypto Currency. The person who came up with this name for a crypto clearly has a deep understanding of the ancient concept and aims to solve many of the difficulties associated with it through this breakthrough application that is known as HAWALA.TODAY
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"Hawala" itself influenced the development of the agency in common law and in civil laws, such as the aval in French law and the avallo in Italian law.
How hawala works:
-In the most basic variant of the hawala system, money is transferred via a network of hawala brokers, or hawaladars. It is the transfer of money without actually moving it. In fact, a successful definition of the hawala system that is used is "money transfer without money movement".
