Munzele Maimbo, Samuel2013-08-142013-08-142003-080-8213-5586-4https://hdl.handle.net/10986/15087Money convenient, and inexpensive means of transferring funds into Afghanistan and among its provinces. They offer a diverse range of financial and non-financial business services at the local, regional, and international level. More recently, they have been instrumental in providing financial services for the delivery of emergency relief and humanitarian and developmental aid into Afghanistan for the majority of international and domestic NGOs, donor organizations, and development aid agencies. This study was undertaken to: (1) determine the current practice of hawala in Afghanistan; (2) verify the assertions regarding the convenience, speed, and cost-effectiveness of hawala transactions in comparison with formal financial institutions such as the central bank and the remaining state banks; (3) evaluate the use of money exchange dealers to remit development funds to regions that are not served by formal financial institutions; (4) identify the operational characteristics that make the hawala system vulnerable to financial abuse; and (5) consider the appropriate regulatory and supervisory options for informal funds transfer systems in Afghanistan.en-USCC BY 3.0 IGOMONEY USE & MOVEMENTMONEY LAUNDERINGILLEGAL ACTIONFUNDS TRANSFERFINANCIAL SERVICESEMERGENCY RELIEFHUMANITARIAN AIDDEVELOPMENTAL BENEFITSNONGOVERNMENTAL ORGANIZATIONFINANCIAL INSTITUTIONSDEVELOPMENT FUNDSREGULATORY FRAMEWORKSUPERVISION PLANSFUNDS TRANSFER SYSTEMS ACCOUNTINGACCOUNTING RECORDSBANK ACCOUNTSBANKING SECTORBANKING SYSTEMCASH TRANSACTIONSCASH TRANSFERSCENTRAL BANKCOMMERCIAL BANKSCOMPETITORSCONFIRMATION PROCESSCOUNTERPARTCOUNTERPARTYCURRENCY EXCHANGEDEALERSDEFAULT RISKDEPOSITSEXCHANGE SERVICESEXPORTSFINANCIAL AUTHORITIESFINANCIAL FLOWSFINANCIAL INSTITUTIONSFINANCIAL MANAGEMENTFINANCIAL SECTORFINANCIAL SERVICESFINANCIAL SYSTEMSFINANCIAL TRANSACTIONSFOREIGN EXCHANGEFUNDS TRANSFERFUNDS TRANSFER SYSTEMSFUNDS TRANSFERSINTERNATIONAL BANKINGINTERNATIONAL BANKSINTERNATIONAL PAYMENTSINTERNATIONAL TRADELAWSLAWYERSLOCAL CURRENCYMICROFINANCEMONEY LAUNDERINGMONEY MARKETMONEY TRANSFERSNONGOVERNMENTAL ORGANIZATIONSOPERATING EXPENSESPAYMENT INSTRUCTIONSPAYMENT SYSTEMSRESERVESSAFEKEEPINGSTATE BANKSTAX EVASIONTELECOMMUNICATIONSTHIRD PARTIESWorld Bank10.1596/978-0-8213-5586-2