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Politics : Foreign Policy Discussion Thread
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To: Hawkmoon who wrote (363)12/4/2002 6:13:46 PM
From: kumar  Read Replies (1) of 15987
 
<UAE is also being seen as the point of origin for much of the money which was diverted to terrorists>

I'd say UAE is a transit point, not the point of origin.

For decades, UAE has been a popular source of international transfer of funds thru channels that work quick, efficient, and at advantageous exchange rates. Occasionally I still use UAE contacts to transfer funds to my parents in India. A couple phone calls, and money's there within 24 hours, hard cash at home, and I only pay after I get confirmation.

Downside of this system is "you better not muck around - pay up when you're supposed to, or bodily harm will result".

Bahrain, on the other hand is the 'banking center' of the region, and most transfers are recorded somewhere.

EDIT : The transaction I described, has no paper trail. Its a trust based system.
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