customer (A, left-hand side) approaches a hawala broker (X) in one city and gives a sum of money (red arrow) that is to be transferred to a recipient (B, right-hand side) in another, usually foreign, city. Along with the money, he usually specifies something like a password that will lead to the money being paid out (blue arrows). (2b) The hawala broker X calls another hawala broker M in the recipient's city, and informs M about the agreed password, or gives other disposition instructions of the funds. Then, the intended recipient (B), who also has been informed by A about the password (2a), now approaches M and tells him the agreed password (3a). If the password is correct, then M releases the transferred sum to B (3b), usually minus a small commission. X now basically owes M the money that M had paid out to B; thus M has to trust X's promise to settle the debt at a later date. Transactions may completed in as little as 15 minutes. Kafala Kafala (literally "guarantee", "joining" or "merging") is called "surety" or "guaranty" in conventional finance. A third party accepts an existing obligation and becomes responsible for fulfilling someone's liability. At least sometimes used interchangeably with himalah and za’amah. There are five "Conditions Of Kafala": Conditions of the Guaranteed, of the Guarantor, of the Object of Guarantee, of the Creditor, and of Sigah For Constituting the Contract. There are different kinds of Kafala: Kafalah Bi Al-Nafs (Physical Guarantee) and Kafalah Bi Al-Mal (Financial Guarantee), with three types of financial guarantee: kafalah bi al-dayn (guarantee for debt), kafalah bi al-taslim (guarantee for delivery), and kafalah bi al-dark. Rahn Rahn (collateral or pledge contract) is property pledged against an obligation. It is also used to refer to the contract that secures a financial liability, with the actual physical collateral given another name—marhoon. According to Mecelle, rahn is "to make a property a security in respect of a right of claim, the payment in full of which from the property is permitted." Hadith tradition states that the Islamic prophet Muhammad purchased food grains on credit pledging his armor as rahn. Types of rahn can be described in terms of who possesses them: Al-rahn al-heyazi (where the creditor holds the collateral); Al-rahn ghair al-heyazi (where the collateral is held by the debtor); Al-rahn al-musta'ar (where a third party provides the collateral). They can also be