What Hawala Essay

1694 words - 7 pages

Unit 5-Midterm

Critical Issues in Terrorism-CJ 513

By Marsha R. Santos

Professor Tina Jaeckle

August 10, 2010

Describe the “Hawala System.” What makes it successful among its users? Since the September 11, 2001 terrorists attacks on the United States, public interest in informal systems of transferring money around the world, particularly the Hawala System, has increased (Mohammed El-Qorchi, 2010). The reason is the Hawala System’s alleged role in financing illegal and terrorist activities, along with its traditional roles of transferring money between individuals and families, often in different countries.

In early times, this system of informal channels for ...view middle of the document...

The system does have direct and indirect economic implications. One aspect is its potential impact on the monetary accounts of countries on either end of the transaction. Because these transactions are not reflected in official statistics, the remittance of funds from one country to another is not recorded as an increase in the recipient country’s foreign assets or that country’s liabilities. Value changes hands, but money is unaltered. Transactions are virtually inaccessible, especially for statistical or balance of payments purpose; remitting and the receiving sides. Anonymity is afforded by this system so it presents risk of money laundering and terrorist financing. (Mohammed El-Qorchi, 2002).

Regulations of this system vary. The variety of legal systems and economic circumstances make a uniform approach technically and legally impractical. In a number of countries, the system is prohibited. Any attempts to regulate the system in these countries would, therefore, be at odds with existing laws and regulates and would be seen as legitimizing foreign exchange operations and capital flight. One final reason to use Hawala is trust. Hawala dealers are almost always honest in their dealings with customers and fellow Hawaladars. Breaches of trust are rare (Mohammed El-Qorchi, 2002).

Consider this example of a Hawala transaction: Abdul is a Pakistani living in New York. From his job he has saved 5000 dollars to send to his brother Mohammed in Karachi. The bank offers to sell him Pakistani rupees (R’s) at the official rate (4) of 31 to the dollar. With Hawala there is a 5 percent commission for handling the transaction, 35, instead of 31 rupees for a dollar and deliver is included. This arrangement will allow Abdul to send Mohammad R’s 166,250 compared to R’s 154,225 with the bank. (NYTimes, 2010).

Describe “Martyrdom.” Does it go hand in hand with being a suicide bomber? Support your answer. Martyrdom is the condition of a martyr; the death of a martyr; the suffering of death on account of adherence to the Christian faith, or to any cause. The essay entitled “The Islamic Ruling on the Permissibility of Martyrdom Operations” is a famous case in point for Martyrdom (ReligiousScope, 2010). This article states that Martyrdom or self-sacrifice operations are those performed by one or more people, against enemies far outstripping them in numbers and equipment, with prior knowledge that the operations will almost inevitably lead to death. (ReligionScope, 2010). The object is to kill as many people as possible in one strike. The martyr will almost certainly die.

A Martyr, willing to face death rather than renounce religious or personal belief cannot be reasoned with. (Newkirk,Terri,1995) Many religions include a tradition of martyrdom and martyrs that are often held in esteem since they represent the pinnacle of faithfulness to some people. In Judaism, martyrdom is a very important...

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