Posted on November 28, 2009
Filed Under >Adil Najam, Economy & Development, Foreign Relations
38 Comments
Total Views: 106046

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38 responses to “Financial Innovation: Pakistan’s ‘Hajj Notes’”

  1. Theo Marsh says:

    That bit about smuggling rupees to buy gold in the Gulf is wild — I’d never considered how a pilgrimage exception could become a loophole for currency arbitrage. It reminds me of how informal money flows still shape things today, since I’ve used a video to SRT converter for interviews with overseas Pakistani families discussing how they send money back home, and the stories of hawala and gold always come up. The Hajj Notes feel like an early, state-sanctioned version of that same grey channel.

  2. Kenneth says:

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  3. David says:

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