... business climate. It illustrates the use of hawala as credit and its importance for the local merchant community. Sellers/creditors cannot use contracts to allocate market risks because buyers/debtors are not willing to accept fixed payment terms even in exchange for a discounted price...

...Elsa Bawani Satkunasingam; Bala Shanmugam Purpose To provide arguments in favour of legalising rotating savings and credit associations (ROSCAs) as they play an important role in savings and credit for women in Malaysia. Design/methodology/approach The paper refers to previous studies...