1 point
It’s informal way of transferring the money. You give your money to Hawalardar which contacts the Hawalardar in the destination country. That person gives back the money minus fee which you pointed out or any person who knows the code. It works like money transfer but outside the formal payment system. That’s why it’s hated by most governments in the world. In many countries it has names like in China “flying money”
1 point
