The Money Exchange Dealers of Kabul: A Study of the Hawala System in Afghanistan (World Bank Working Papers) [Paperback]

Samuel Munzele Maimbo (Author)

Book Description

Series: World Bank Working Papers | Publication Date: August 20, 2003

'The Money Exchange Dealers of Kabul' is an exploratory piece of research on how the informal financial sector operates in conflict-afflicted countries. This paper presents the findings, analyses and conclusions of a study on the operational characteristics of an informal funds transfer system found in Afghanistan, generally referred to as hawala. It describes the system's geographic characteristics, convenience, effectiveness, cost, and its relationship with the formal financial system. It studies the domestic transfer of development funds by international aid institutions and nongovernmental organizations and discusses the hawala system's benefits as well as the operational characteristics that make it vulnerable to abuse. Finally, it presents the authors conclusions on the developmental role of informal financial institutions in the Afghan financial system; the implications for financial management practices of donor-financed development programs; and the regulatory and supervisory options for Da Afghanistan Bank.

Product Details

• Paperback: 46 pages
• Publisher: World Bank Publications (August 20, 2003)
• Language: English
• ISBN-10: 0821355864
• ISBN-13: 978-0821355862
• Product Dimensions: 9 x 6.9 x 0.1 inches
• Shipping Weight: 3.7 ounces (View shipping rates and policies)
• Amazon Best Sellers Rank: #2,591,326 in Books (See Top 100 in Books)

More About the Author

Samuel Munzele Maimbo is a Lead Financial Sector Specialist in the World Bank's Africa Finance and Private Sector Unit responsible for financial sector development in Ethiopia, Malawi, Mozambique, Zambia and Zimbabwe. He has expertise in a range of finance and private sector areas, having focused on developing, emerging, and conflict-afflicted countries since the mid 1990s. Specific areas of focus have included banking and financial sector, formal and informal remittance systems, rural finance, micro-finance, housing finance, and private sector development. A Rhodes Scholar, Samuel obtained a PhD in Public Administration with a thesis on the design, development and implementation of banking regulation and supervision practices from the Institute for Development Policy and Management at the University of Manchester, England in 2001; a MBA (Finance) Degree from the University of Nottingham, England in 1998; a Bachelor of Accountancy Degree (with Distinction) from the Copperbelt University, Zambia in 1994. He is also a Fellow of the Association of Chartered Certified Accountants (FCCA), United Kingdom and a Fellow of the Zambia Institute of Certified Accountants (ZICA).