savings account products called qardh-ul hasan, (the "loan" being a deposit to a bank account) where the debtor (the bank) may pay an extra amount beyond the principal amount of the loan (known as a hibah, literally gift) as a token of appreciation to the creditor (depositor). These also do not (in theory) violate orthodox sharia if the extra was not promised or pre-arranged with the account/loan agreement. Contracts of safety, security, service These contracts are intended to help individual and business customers keep their funds safe. Hawala Hawala (also Hiwala, Hewala, or Hundi; literally transfer or sometimes trust) is a widely used, informal "value transfer system" for transferring funds from one geographical area to another, based not on movement of cash, or on telegraph or computer network wire transfers between banks, but on a huge network of money brokers (known as "Hawaladars") located throughout the Muslim world. According to the IMF, a hawala transaction typically transfers the value of money (or debt) but not corresponding cash, from one country to another. The hawala network operates outside of, or parallel to, traditional banking, financial channels, and remittance systems, but predates it by many centuries. In the first half of the 20th century it was gradually replaced by the instruments of the conventional banking system, but became a "substitute for many banking products", as Muslim workers began to migrate to wealthier countries to seek employment in the late 20th century, and sought ways to send money to or secure a loan taken out by their family back home. Dubai has traditionally served as a hub. Each hawala transaction takes place entirely on the honour system, and since the system does not depend on the legal enforceability of claims, it can operate even in the absence of a legal and juridical environment. Hawaladars networks are often based on membership in the same family, village, clan, or ethnic group, and cheating is punished by effective ex-communication and "loss of honour"—leading to severe economic hardship. Hawaladars are often small traders who work at Hawala as a sideline or moonlighting operation. Hawala is based on a short term, discountable, negotiable, promissory note (or bill of exchange) called "Hundi". The Hawala debt is transferred from one debtor to another. After the debt is transferred to the second debtor, the first debtor is free from his/her obligation. As illustrated in the box to the right, (1) a