Banks get better terms when they negotiate together.

Hoshmand Afghanistan Electronic Money Payment Consulting Services Company, HAEMPCS, is the local program provider for the Digital Local Currency Programme in Afghanistan. A joint venture between AfghanistanPay Limited and Moore Afghanistan, we advise and arrange, so that Afghan banks can contract directly with counterparties abroad and reach their retail payment infrastructure.

How the Programme works Our partners

Correspondent banking connects one bank to one bank through intermediaries, and reaches wholesale flows only. The Programme lets a syndicate of banks pool their collective demand for a currency, contract directly with a single sponsor bank in the destination market, and gain access to that bank’s retail payment infrastructure, on terms negotiated by the group rather than bank by bank.

Three things change

Many to one, not one to one. Banks in a market assess their collective demand for a currency and approach the destination as a syndicate. Volume that would be marginal for any single bank becomes worth negotiating over, and the terms are set once for the group.

Direct, not intermediated. The syndicate contracts with the sponsor bank itself. No correspondent chain, and none of the compliance cost each additional hop carries. For Afghan institutions, whose correspondent access has been the binding constraint for years, this is the part that matters most.

Retail, not wholesale. Correspondent relationships move institutional flows. A sponsor bank shares its retail payment infrastructure, so member banks reach domestic payment rails on the same terms as a resident.

Membership agreements are signed between HAEMPCS and the participating bank. Regulated activity, custody of funds and settlement sit with the licensed banks themselves.

What we deliver

Member banks expect more than access. Five capabilities sit inside the market programme, each a condition of the network working rather than an addition to it.

Cross-border regulatory and compliance advisory

Establishing the shared framework that lets two banks in two jurisdictions contract with each other directly.

Local-currency treasury matching

Identifying and arranging the counterparty positions that let member banks hold and settle in each other’s currencies.

Institutional training and certification

University-accredited programmes for member bank staff, delivered with an education partner.

Network technology assurance

Auditing core banking, switching, card and merchant systems against the throughput standards the network requires.

Programme communications

Multilingual publication and localisation, in Dari, Pashto and English.

Moore Afghanistan

Over 200 full-time Afghan professionals, a further 800 short-term consultants across all 34 provinces, and more than 700 client organisations served since 2009. Audit, advisory and tax delivered to international standards, in-country.

The Digital Local Currency group

The Programme’s know-how, technology and governance framework, licensed down through AsiaPay DLC Limited and AfghanistanPay Limited, and applied identically in every market where the Programme operates.

International standards, local reality

ISA-compliant audit practice under IFRS and the IESBA Code, ISQM-1 quality management, and fiduciary engagements for the World Bank Group, USAID, FCDO, GIZ and UN agencies.

A single point of contract

Member banks contract with one entity, in-country, under Afghan law. Nothing in the structure above HAEMPCS contracts with a bank or enters the funds flow.