English

Definition of hawala noun from the Oxford Advanced Learner's Dictionary

 

hawala

 noun
noun
BrE BrE//həˈwɑːlə//
 
; NAmE NAmE//həˈwɑːlə//
 
, NAmE//həˈvɑːlə//
 
(also havala) [uncountable]
 
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(in Arab countries and South Asia) a traditional system of transferring money to a person in another country or area, which involves paying money to an agent who then tells another agent in the relevant place to pay that person He is believed to have moved money to Iraq by hawala. Many organizations in the region use hawala to avoid the banking system. She was arrested for her involvement in hawala transactions to fund militant activities.