Economics · Financial Markets
What does the term 'Hawala' refer to?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1A tax-free savings scheme for rural development
- 2Legal trading of shares in stock exchanges
- 3Illegal transaction of foreign exchange through informal channels✓
- 4A clearing system used by commercial banks
Correct answer
Illegal transaction of foreign exchange through informal channels
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