File:Hawala Diagram.png

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Description: Example for the Hawala banking system: Person A wants to transfer money to person B, using the services of the "hawaladars" X and M. 1. A hands the money (red) to his hawaladar X and also tells him the code word (blue). 2a. Then, A tells B the code word. 2b. Independent of this, X tells the code word to M. 3a. B tells the code word to M... 3b. ...which shows to M that B is a legitimate receiver of the money, so he hands over the money to B. Legend: blue = shared code word is being told, red = money is handed over Created with dia, version 0.96.1

Date : 20 July 2009

Source: https://commons.wikimedia.org/wiki/File:Hawala.png

Author: Wutzofant

License: Attribution-ShareAlike 3.0 Unported (CC BY-SA 3.0) https://creativecommons.org/licenses/by-sa/3.0/deed.en This file is licensed under the Creative Commons Attribution-Share Alike 3.0 Unported, 2.5 Generic, 2.0 Generic and 1.0 Generic license.

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current12:18, 22 October 2015Thumbnail for version as of 12:18, 22 October 20151,116 × 604 (60 KB)Admin (talk | contribs)Description: Example for the Hawala banking system: Person A wants to transfer money to person B, using the services of the "hawaladars" X and M. 1. A hands the money (red) to his hawaladar X and also tells him the code word (blue). 2a. Then, A tells B...
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