An informal value transfer system (IVTS) is any system, mechanism, or network of people that receives money for the purpose of making the funds or an equivalent value payable to a third party in another geographic location, whether or not in the same form. Informal value transfers generally take place outside of the conventional banking system through non-bank financial institution or other business entities whose primary business activity may not be the transmission of money. The IVTS transactions occasionally interconnect with formal banking systems, such as through the use of bank accounts held by the IVTS operator.
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Persian, and xawala or xawilaad in Somali, is a popular and informalvaluetransfersystem based on the performance and honour of a huge network of money...
(USA), CHAPS (UK) Informalvaluetransfersystems, e.g. hawala Business and economics portal Digital currency Electronic funds transfer Correspondent account...
form of government Informal settlement, or shanty town Informalvaluetransfersystem, outside the conventional banking systemInformal social control, enforcing...
Informalvaluetransfersystems (IVTS), however, exist in a number of cultures, and bypass regular financial channels and their monitoring systems (see...
required a secure means of transferring funds or valuable assets. Traditionally, Angadias operated on a cash-based system, providing a reliable and confidential...
the oil company's dollar account in Amsterdam. Hawala Hundi Informalvaluetransfersystem Nostro and vostro accounts 31 U.S.C. § 5318A(e)(1)(B) – Title...
or financial support to the illegal activities. Hawala, an informalvaluetransfersystem useful to terrorists (and criminals) for transmission of money...
ranking of remittance by nations Remittances to India Hawala Informalvaluetransfersystem Financial Action Task Force Indian economy Economy of India...
evaluated. As early as 2003 FinCEN disseminated information on "informalvaluetransfersystems" (IVTS), including hawala, a network of people receiving money...
individuals residing in the state. FINCEN has also ruled that InformalValueTransferSystems (IVTS) are considered money transmitters for the purposes of...
population in the UK grew. Funds transfer services have become a large industry in Somalia. Estimates of the aggregate value of remittances from the Somali...
Islamic Golden Age. One such institution was the Hawala, an early informalvaluetransfersystem, which is mentioned in texts of Islamic jurisprudence as early...
Economics portal Asia/Pacific Group on Money Laundering Hawala Informalvaluetransfersystem Remittance Riba Offshore financial centre Terrorism financing...
jurisprudence. One such institution was the Hawala, an early informalvaluetransfersystem, which is mentioned in texts of Islamic jurisprudence as early...
single bank account at Bank of America, over multiple transfers through an informal money transfersystems which the defendant argued was legal and the only...
An informal economy (informal sector or grey economy) is the part of any economy that is neither taxed nor monitored by any form of government. Although...
Belgian privacy law. Reporting requirements may not affect Informalvaluetransfersystems (IVTS) the use of which may simply be customary in a culture...
hawala system in the Indian subcontinent and the Arab world, under which a series of contractual relationships formed the basis of an informalvalue transfer...
Hewala, or Hundi; literally "transfer" or "trust") is a widely used, informal "valuetransfersystem" for transferring funds from one geographical area...
social activities. Advantages of informal learning cited include flexibility and adaptation to learning needs, direct transfer of learning into practice, and...
disseminated, yielding robustness and independence of systems. Technology transfer is also promoted through informal means, such as at conferences organized by various...
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