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Politics : Foreign Policy Discussion Thread -- Ignore unavailable to you. Want to Upgrade?

To: Hawkmoon who wrote (363)	12/4/2002 6:13:46 PM
From: kumar	Read Replies (1) \| Respond to 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.