1. an underground banking system based on trust whereby money can be made available internationally without actually moving it or leaving a record of the transaction; - Example: "terrorists make extensive use of hawala"
WordNet (r) 3.0 (2006):
hawala
n 1: an underground banking system based on trust whereby money
can be made available internationally without actually
moving it or leaving a record of the transaction;
"terrorists make extensive use of hawala"