Sentence examples for remittance system from inspiring English sources

Somalia might be one of the poorest nations in the world, but its remittance system is widely seen as a model for other nations.

While recognising that money could be transferred to terrorists in Somalia, its response is not to ban the remittance system but to try to make it more transparent.

In recent times, hawala transactions have constituted an alternative remittance system, enabling expatriates from Muslim countries to deliver funds to family members.

Investigators have begun to focus on hawalas, the informal remittance system used in much of the Arab world that has in some instances has been exploited to provide financing for Al Qaeda.

The remittance system — and its importance in Somalia — has grown as decades of political upheaval have driven many Somalis abroad and, in recent years, as Islamists have wrested control over much of the country from a weak transitional government.

Africa, where countries such as Somalia have been locked out of the so-called remittance system, is proving a harder nut to crack, although Nigeria is one country on the continent for which it does offer an exchange rate.

For example, migrants from Afghanistan often use informal remittance systems, such as hawala.

Much of the money involved would be moved around as cash, or through informal money transfer or remittance systems like hawala.

It has developed nine recommendations, including the regulation of wire transfers, remittance systems (hawalas) and non-profit organisations, to complement 40 already in place to fight money laundering.

The Financial Action Task Force announced, in a reference to the hawala system, that it would "enhance its focus on informal and nontraditional methods of financing terrorism and money laundering, including cash couriers, alternative remittance systems and the abuse of nonprofit organizations".

Indeed, they have learned to avoid it wherever possible, which is why the informal remittance systems known as hawalas are probably more fertile ground for the authorities than bank accounts.