hawala
Concise Oxford English Dictionary © 2008 Oxford University Press:
hawala /haˈwɑːlə/
▶noun a traditional system of transferring money used in Arab countries and the Indian subcontinent, whereby the money is paid to an agent who then instructs an associate in the relevant area to pay the final recipient.
– origin from Arab. ḥawāla, lit. ‘assignment, bill of exchange’.
'hawala' also found in these Oxford entries:
