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Politics : New FADG. -- Ignore unavailable to you. Want to Upgrade?

To: Hawkmoon who wrote (809)5/23/2007 8:25:42 PM
From: kumarRead Replies (1) | Respond to of 4152
 
Similar to hawala, there is another process of money transfer called Hundi.

The difference is with a Hundi, you pay money up front, you are given a piece of paper (think of it as a letter of credit).

At the other end, whoever presents that piece of paper, gets the money.

It is a bit more cumbersome than Hawala, but was very useful in the days when interbank transfers were not available, and travellers needed money at the other end.


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