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Nexus Lecture Explores Alternate Banking Systems
Ancient Money Transfer System Gives Insight into Terrorism Funding
Written By Keith Henry
Professor Divya Sharma to present lecture on Hundi and Hawala
Contact - cleogrande@utica.edu
Utica, NY (09/16/2008) - Utica College’s Nexus Seminar Series will feature a lecture by Divya Sharma, Ph.D., on Hawala and Hundi, two forms of money transfer that predate the modern western banking system. Sharma is an assistant professor and chair of the criminal justice program at UC. The talk, free and open to the public, will be held Friday, Sept. 19 at 2:30 p.m. in the Willard Conference Room, DePerno Hall, on the UC campus.Sharma’s presentation traces the historical roots of Hundi with reference to economic motivations and socio-cultural conditions. Hawala has replaced Hundi as an informal means of money transfer that enables people to send money from one country to another without going through formal banking systems. It also facilitates transnational criminals who funnel money for criminal activities, including funding for terrorism.
Hawala gained global notoriety after news reports that terrorists had used Hawala from the Middle East to carry out the 9/11 attacks on the United States. This talk explores Hawala within the cultural, social, economic, legal, and criminal context. For more information, call (315) 792-3028.
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