Yes, though without the negative connotations the term "hawala" carries in the West because all transactions are still fully documented and the broker gets a mu

Yes, though without the negative connotations the term "hawala" carries in the West because all transactions are still fully documented and the broker gets a much lower share (for pure monetary international transfers in the hawala system, fees can go as high as 60% with 25% already being considered a "good deal"). And one does not have to pass high/drunk armed guards and is not paid from a huge pile of cash that just sits on the floor in a corner of the room. PS: Sorry, no source for the numbers but my own experience in Northwestern Africa.