Sentence examples for remittance systems from inspiring English sources

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.

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.

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".

Among countries that regulate informal remittance systems, and the hawala system in particular, the regulatory policies vary substantially, with absolute prohibition on one end hawala transactions are illegal and more conciliatory postures on the other considered parts of the "gray" economy, value transfer systems are de facto tolerated.

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.

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.

For example, earlier this month, President Bush blocked the accounts of a financial network called Al Barakaat, which owns an international collection of hawalas, an informal remittance system that moves millions of dollars around the world with virtually no paper trail.