Hawala Banking Overview
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Questions and Answers

What is Hawala banking often referred to as?

  • Formal banking
  • Underground banking (correct)
  • Online banking
  • Mainstream banking

    • How are transactions recorded in Hawala banking?

  • Through formal banking systems
  • In computerized databases
  • Through electronic records
  • In informal diaries (correct)

    • Why is Hawala banking related to money laundering and terrorist financing?

  • As it operates outside the regular banking system (correct)
  • Because of its transparency
  • Due to its involvement in traditional banks
  • Because of its strict regulations

    • Who are hawalanders in the context of Hawala banking?

    <p>Bankers who keep informal records</p> Signup and view all the answers

    What motivates hawalanders to maintain trust in their networks?

    <p>Desire for more clients</p> Signup and view all the answers

    Why is Hawala banking covered in this course?

    <p>Because it is regularly in the news and has integrity risks</p> Signup and view all the answers

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