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Questions and Answers
Hawalanders can be held responsible if they fail to fulfill their obligations or use the funds for personal gain.
False
The hawala system has an established dispute resolution mechanism to recover lost money.
False
Underground banking is a legal and regulated practice.
False
Hawala banking is only used for illegal activities.
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The value of transfer through the hawala system is fixed and not affected by market conditions.
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The 2019 hawala case in the agricultural sector involved importing potatoes and onions from West Africa.
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The Dutch potato and onion traders reported accepting cash payments because of a functioning banking system in Mauritania.
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Third-party payments are a common and legal practice in the hawala system.
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Hawala banking is primarily used for speed and convenience.
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Hawala banking is a modern and recently developed system of making transactions.
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