Study Shariah background of Hawala and its modern shapes

Hawala and its modern shapes

Abstract

It is a fact that a human being cannot completes all his need himself but he
becomes indigent to other to fulfil his needs. Islam is the only complete, flexible,
elastic religion. It is not only a collection of beliefs and worships but also has full
guidance in every aspect of life. In modern societies, transferring cash or debt
has many forms like those that travel cheque, bill of exchange, bonds, digital
cards, easy paisa and jazz cash etc. Islam also provides him the specific guidance
in all the above modern systems. Hawala and hundi (bill of exchange) are
allowed in Islam with some restrictions, regulation and condition. This article
focuses only on modern hawala and its sharia status. The research methodology
adopted in this article is qualitative.