Regulatory position

The Programme is built to align with international standards rather than work around them, and the alignment is structural: because every leg of every transaction is performed by a licensed institution under its own supervision, obligations attach where the supervisory authorities intend them to attach.

What we are registered as

Hoshmand Afghanistan Electronic Money Payment Consulting Services Company is a limited liability company registered with the General Directorate of Central Business Registry and Intellectual Property at the Ministry of Industry and Commerce, under registration number 186316 and business licence 109354. It was established in 2026 and the licence runs to 27 June 2027.

The registered name states the activity precisely. This is a consulting services company working in the field of electronic money payments. It is not an electronic money institution, a payment service provider or a money transfer business, holds no licence of that kind from Da Afghanistan Bank, and has no such application in progress.

What HAEMPCS does not do

HAEMPCS does not hold, receive, transfer, settle or control customer or third-party funds. It does not operate client, safeguarding, pooled, escrow or nominee accounts. It does not issue wallets, electronic money, cards, tokens or any other monetary instrument. It does not operate payment rails or correspondent networks. It does not quote, buy, sell or convert currency on its own account or take a position in any currency.

It advises, arranges, trains, audits and publishes. Everything else is performed by licensed institutions under their own permissions.

Financial Action Task Force standards

FATF recommendations governing wire transfers, customer due diligence, beneficial ownership and correspondent relationships apply to the licensed banks on both ends of a corridor, under their own national implementations. Advisory work harmonises how the two institutions meet those obligations, and originator and beneficiary information travels with the transaction as the standards require.

Because value is digital from the point of entry, a corridor produces a complete and auditable record. The comparison is not with a cleaner alternative but with the informal channels that currently carry much of this activity, which produce none.

Sanctions regimes

Sanctions screening is performed by the participating banks under the regimes binding on them, including the United Nations regime and the national regimes applicable in each jurisdiction. A corridor is only established between jurisdictions where both participating institutions can lawfully transact, and the framework agreement records the screening standard each has undertaken to apply. This assessment is made corridor by corridor rather than once.

Assurance standards

The joint venture applies the audit and quality management standards its partner firm already operates under: International Standards on Auditing, IFRS, the IESBA Code and ISQM-1, with independence safeguards and independent engagement quality review on complex assignments.

Monetary sovereignty

The Programme is anchored in sovereign local currency. It introduces no parallel instrument, creates no claim outside the domestic monetary system, and does not move activity into a currency the issuing authority does not control.