Central Bank to regulate Informal Money Transfer Systems
- 5opn1
- January 22, 2025
- Banking and Financial
- Central Bank to regulate Informal Money Transfer Systems
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The Central Bank has taken steps to regulate informal money transfer systems including Undial and Hawala to ensure financial stability and prevent illicit activities.The Undial and Hawala systems are informal, trust-based methods of transferring money, common in South Asia and West Asia.
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