Structure

One operating entity, contracting in-country. Everything above it is non-operating.

The structure exists to keep two things separate: the ownership of know-how, held centrally, and the operation of the Programme, which happens in-country under Afghan law.

HAEMPCS is the joint venture between AfghanistanPay Limited and Moore Afghanistan, and the only entity in the structure that contracts with banks. Every company above it is non-operating.

Each level

Digital Local Currency Limited: The parent, registered in England and Wales. Owns the Programme’s know-how, intellectual property and technology, and sets group governance. Non-operating.
AsiaPay DLC Limited: Regional program manager for Asia. Non-operating.
AfghanistanPay Limited: Country program manager for Afghanistan. Licenses the Programme into the market. Non-operating.
Moore Afghanistan: Joint venture partner. Contributes in-country professional standing, provincial reach and assurance practice.
HAEMPCS: Hoshmand Afghanistan Electronic Money Payment Consulting Services Company, a limited liability company registered with the ACBR-IP under registration 186316 and licence 109354, established 2026. The joint venture and the local program provider, and the only entity in the structure that operates, contracts with member banks, or interacts with any external party.

How income moves

All external revenue originates at HAEMPCS, from its agreements with member banks, and moves upward as royalty and know-how licensing fees to AfghanistanPay Limited and onward through the group. Capital moves in the opposite direction as shareholder funding. These are the only money flows involving group companies, and they are entirely intercompany.