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I Overview

I Overview »

Source: Informal Funds Transfer Systems : An Analysis of the Informal Hawala System

Series: Occasional Papers

Author(s): Mohammed El Qorchi , Samuel Maimbo , and John Wilson

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 18 August 2003

ISBN: 9781589062269

Keywords: Financial systems, banking, remittance, remittances, foreign exchange, banking sector

Since the September 11, 2001, terrorist attacks in the United States, there has been renewed public interest in informal funds transfer (IFT) systems. Press coverage, which often focused on the putative conn...

II Introduction

II Introduction »

Source: Informal Funds Transfer Systems : An Analysis of the Informal Hawala System

Series: Occasional Papers

Author(s): Mohammed El Qorchi , Samuel Maimbo , and John Wilson

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 18 August 2003

ISBN: 9781589062269

Keywords: Financial systems, banking, remittance, remittances, foreign exchange, banking sector

This study responds to the growing interest in the operational characteristics and economic and regulatory implications of IFT systems. It contributes to the limited analytical literature on financial remitt...

III Features of the Informal Hawala System

III Features of the Informal Hawala System »

Source: Informal Funds Transfer Systems : An Analysis of the Informal Hawala System

Series: Occasional Papers

Author(s): Mohammed El Qorchi , Samuel Maimbo , and John Wilson

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 18 August 2003

ISBN: 9781589062269

Keywords: Financial systems, banking, remittance, remittances, foreign exchange, banking sector

Different terms are used to describe informal funds transfer systems, including “alternative remittance systems,” “underground banking,” “ethnic banking,” and “informal value transfer system.” This study use...

Operational Risk
			: The Sting is Still in the Tail But the Poison Dependson the Dose

Operational Risk : The Sting is Still in the Tail But the Poison Dependson the Dose »

Volume/Issue: 2007/239

Series: IMF Working Papers

Author(s): Andreas Jobst

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2007

DOI: http://dx.doi.org/10.5089/9781451868036.001

ISBN: 9781451868036

Keywords: financial regulation, Basel Committee, Basel II, New Basel Capital Accord, extreme value theory, generalized extreme value (GEV) distribution, extreme value theory (EVT), generalized Pareto distribution (GPD), peak-over-threshold (POT) method, g-and-h distribution

This paper investigates the generalized parametric measurement methods of aggregate operational risk in compliance with the regulatory capital standards for operational risk in the New Basel Capital Accord ("Basel...

Informal Funds Transfer Systems
			: An Analysis of the Informal Hawala System

Informal Funds Transfer Systems : An Analysis of the Informal Hawala System »

Series: Occasional Papers

Author(s): Mohammed El Qorchi , Samuel Maimbo , and John Wilson

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 18 August 2003

DOI: http://dx.doi.org/10.5089/9781589062269.084

ISBN: 9781589062269

Keywords: Financial systems, banking, remittance, remittances, foreign exchange, banking sector

Since the terrorist attacks of September 11, 2001, there has been increased public interest in informal funds transfer (IFT) systems. This paper examines the informal hawala system, an IFT system found predominantl...

Back Matter

Back Matter »

Source: Informal Funds Transfer Systems : An Analysis of the Informal Hawala System

Series: Occasional Papers

Author(s): Mohammed El Qorchi , Samuel Maimbo , and John Wilson

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 18 August 2003

ISBN: 9781589062269

Keywords: Financial systems, banking, remittance, remittances, foreign exchange, banking sector

Since the terrorist attacks of September 11, 2001, there has been increased public interest in informal funds transfer (IFT) systems. This paper examines the informal hawala system, an IFT system found predominantl...

Front Matter

Front Matter »

Source: Informal Funds Transfer Systems : An Analysis of the Informal Hawala System

Series: Occasional Papers

Author(s): Mohammed El Qorchi , Samuel Maimbo , and John Wilson

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 18 August 2003

ISBN: 9781589062269

Keywords: Financial systems, banking, remittance, remittances, foreign exchange, banking sector

Since the terrorist attacks of September 11, 2001, there has been increased public interest in informal funds transfer (IFT) systems. This paper examines the informal hawala system, an IFT system found predominantl...

IV Origin and Modern Uses of IFT Systems

IV Origin and Modern Uses of IFT Systems »

Source: Informal Funds Transfer Systems : An Analysis of the Informal Hawala System

Series: Occasional Papers

Author(s): Mohammed El Qorchi , Samuel Maimbo , and John Wilson

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 18 August 2003

ISBN: 9781589062269

Keywords: Financial systems, banking, remittance, remittances, foreign exchange, banking sector

IFT systems are ancient and well rooted in the cultures of various countries. Despite the different terminology ascribed to them—fei-ch’ien (China), hui kuan (Hong Kong), hundi (India), hawala (Middle East),...

Operational Risk

Operational Risk »

Source: Operational Risk : The Sting is Still in the Tail But the Poison Dependson the Dose

Volume/Issue: 2007/239

Series: IMF Working Papers

Author(s): Andreas Jobst

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2007

ISBN: 9781451868036

Keywords: financial regulation, Basel Committee, Basel II, New Basel Capital Accord, extreme value theory, generalized extreme value (GEV) distribution, extreme value theory (EVT), generalized Pareto distribution (GPD), peak-over-threshold (POT) method, g-and-h distribution

This paper investigates the generalized parametric measurement methods of aggregate operational risk in compliance with the regulatory capital standards for operational risk in the New Basel Capital Accord ("Basel...

V Economic Analysis of Informal Hawala Transactions

V Economic Analysis of Informal Hawala Transactions »

Source: Informal Funds Transfer Systems : An Analysis of the Informal Hawala System

Series: Occasional Papers

Author(s): Mohammed El Qorchi , Samuel Maimbo , and John Wilson

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 18 August 2003

ISBN: 9781589062269

Keywords: Financial systems, banking, remittance, remittances, foreign exchange, banking sector

Assertions that hawala “sends money without sending money” are misleading. Many discussions of remittances through the informal funds transfer systems give the impression that this kind of transaction is ver...