chapter  5
14 Pages

Hawala and Hundi

Vehicles for the long-distance transmission of value
WithRoger Ballard

Long-distance trade is in no way a modern phenomenon nor a product of European colonial expansion. Overland trade across the Asiatic landmass has existed for millennia. Given its strategic location midway between Europe and east Asia, the Indian subcontinent has long been a significant player in long-distance oceanic trade. To facilitate this, India developed sophisticated methods for the transfer of value across the many jurisdictions that have come and gone in this vast arena.