Regulatory Frameworks for Hawala and Other Remittance Systems

March 24, 2005

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Regulatory Frameworks for Hawala and Other Remittance Systems, (USA: International Monetary Fund, 2005) accessed November 23, 2024

Summary

Hawala and other remittance systems have gained attention in recent years with the substantial growth of remittance flows from countries with large migrant labor forces and with increased focus on combating money laundering and the financing of terrorism. The IMF and the World Bank have been researching these systems since 2002 to better understand the interplay of historical, cultural, and economic factors that promote such systems. This book is a survey of regulatory practices and an overview of experiences in different countries, and includes articles on regulatory frameworks in remitting and receiving countries and on the problems that can arise when regulating remittance systems.

Subject: Anti-money laundering and combating the financing of terrorism (AML/CFT), Balance of payments, Banking, Crime, Currencies, Money, Money laundering, Remittances, Terrorism financing

Keywords: Anti-money laundering and combating the financing of terrorism (AML/CFT), Asia and Pacific, Central bank of the U.A.E., Currencies, East Africa, Global, IFT system, Money laundering, Money remittance office, Money transfer, MVT service, MVT services, Regulation, Remittance, Remittances, SEM, South Asia, Southern Africa, Terrorism financing, Transaction

Publication Details

Pages:

120
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Seminar Volumes
Stock No:

RFHREA
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