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| Tekijä: | Schramm, M. Taube, M. |
| Otsikko: | Evolution and institutional foundation of the hawala financial system |
| Lehti: | International Review of Financial Analysis
2003 : VOL. 12:4, p. 405-420 |
| Asiasana: | FINANCIAL SERVICES Islam Social environment |
| Kieli: | eng |
| Tiivistelmä: | The evolution and the institutional foundation of the century-old Islamic hawala financing system is examined. It is shown in the analysis of the functional principles of this system that it is a highly efficient, extremely robust institutional arrangement for overcoming the risks of opportunism among the transaction partners. It is an institution that was developed against the backdrop of a lack of formal legal systems. |
SCIMA