Definition of havala in English:

havala

noun

Indian
  • ‘smugglers finance their purpose through havala’
    another term for hawala
    [as modifier] ‘in such a regime the havala market would vanish’
    • ‘The fake bank draft case has allegedly turned out to be a case of a huge havala operation having international dimensions.’
    • ‘For each dollar transferred out of the country, the havala traders made Rs 1.50.’
    • ‘Apart from flaunting his riches, he was also fishing for new clients for his havala business.’
    • ‘However, individual small transactions are teeming in the havala market and its relatives the matka market and betting rings.’
    • ‘Abid in his statement to the ED admitted that he had been dealing through havala channels for over a year now.’

Origin

From Hindi havālā.

Pronunciation:

havala

/hʌˈveɪlə/