Page "Hawala" Paragraph 14

According to the CIA, with the dissolution of Somalia's formal banking system, many informal money transfer operators have arisen to fill the void.

It estimates that such hawaladars are now responsible for the transfer of up to $ 1. 6 billion per year in remittances to the country, most coming from working Somalis outside Somalia.

Such funds have in turn had a stimulating effect on local business activity.