"Focuses on the rationale and performance of state-owned financial institutions in emerging markets, as well as on possible government policies for either privatizing or managing them"--Provided by publisher

Since the terrorist attacks of September 11, 2001, there has been increased public interest in informal funds transfer (IFT) systems. This paper examines the informal hawala system, an IFT system found predominantly in the Middle East and South Asia. The paper examines the historical and...