Is Hawala a network or an entity?

Question

Hawala money lending and remittances, of which Somalia has been the Hawala form of money transfer for centuries to the tune of billions annually. There is the Dahabshill Bank Somalia (UK)/ Somaliland where one has to have a minimum of $ 1,000 or 5,000 notes for an application at the bank. HSBC will take Somaliland Currency in Thousand Notes only, but will not take Somali Currency. There are various banks of Somaliland Baanka Somaliland, Bankiga Dhexe Ee Soomaaliya (Central Bank of Somalia.

Answer

It’s a concept. Imagine a Western Union style payment whereby you pay cash in one end to entity A, provide a passowrd and your recipient collects from entity B at the other end upon production of the password. entity A then owes entity B the money.

I’m not sure if anyone is trading under a brand by the same name.

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