Despite the existence of legal and regulated systems, a significant proportion of Bangladeshi immigrants choose to utilize informal channels for the purpose of transferring funds. This practice has the potential to result in macroeconomic ramifications for Bangladesh. The rise of Hundi in...

Rotating Savings and Credit Associations (RoSCAs) is a widely spread informal financial institution in developing countries. This paper examines how access to formal banking (or lack thereof), impatience and self-control are correlated with individuals' decisions to join RoSCAs. The paper...

Rotating Savings and Credit Associations (RoSCAs) is a widely spread informal financial institution in developing countries. This paper examines how access to formal banking (or lack thereof), impatience and self-control are correlated with individuals' decisions to join RoSCAs. The paper...

The banking sector in South Africa is grappling with an imperative to transform of which one of the most significant issues is that of providing banking products and services to a market segment that has historically been excluded and neglected from access to financial products and services. The...

I study the provision of commitment savings by informal banks to sophisticated hyperbolic discounters. Since a consumer is subject to temptation in the period that he signs a contract, banks might exploit his desire for instant gratification even as they help him to commit for the future....

This document contains an edited version of an expert report prepared for the de fence in one of the many 'Hawala'/money laundering prosecutions currently being mounted by UK Customs and Excise. It was created in 2003.