VOL. XLV

No 21

27-May-2002

ABU DHABI

Abu Dhabi Declaration Calls For Transparency In Huwalah Money Transfers

The popular andwidespread system of transferring money through the financial instrument of Huwalah hasgained international recognition at a two-day conference in Abu Dhabi which ended on 16 May. Theconference was attended by some 58 countries including the US,amid concerns that Huwalah could be used to financeterrorist organizations and to launder money. The Abu Dhabi Declaration issuedby...