This paper presents the findingsanalyses and conclusions of a study on the operational characteristics of informal hawala which is used predominantly in the middle east and south asia the study used the term informal hawala system to refer broadly to money transfers that occur in the absence of or are parallel to formal banking sector channels. This paper examines the informal hawala system an ift system found predominantly in the middle east and south asia the paper examines the historical and socioeconomic context within which the hawala has evolved the operational features that make it susceptible to potential financial abuse the fiscal and monetary implications for hawala remitting and hawala recipient countries and current regulatory and supervisory responses series. This paper examines the informal hawala system an ift system found predominantly in the middle east and south asia the paper examines the historical and socioeconomic context within which the hawala has evolved the operational features that make it susceptible to potential financial abuse the fiscal and monetary implications for hawala remitting and hawala recipient countries and current regulatory and supervisory responses. Since the terrorist attacks of september 11 2001 there has been increased public interest in informal funds transfer ift systems this paper examines the informal hawala system an ift system found predominantly in the middle east and south asia the paper examines the historical and socioeconomic context within which the hawala has evolved the operational features that make it . Informal funds transfer systems an analysis of the informal hawala system imfs occasional papers oct 06 2020 posted by beatrix potter ltd text id 89683619 online pdf ebook epub library systems this paper examines the informal hawala system an ift system found predominantly in the middle east and south asia the paper examines the historical and