Based on Electronic Money Institutions Regulation approved by Supreme Council of Da Afghanistan Bank (Central Bank), Electronic Money Institution (EMI) means a legal entity, other than a Commercial Bank or Depository Microfinance Institution (DMFI) that accepts banknotes, coins, or other means of payment in exchange for e-money, and facilitates the transfer of this e-money to make payments.

DMFI that allows its accountholders access to their funds, located in individual, numbered accounts that are liabilities of that commercial bank or DMFI, by means of an electronic device, such as a mobile telephone handset, is not considered to be an EMI for the purposes of mentioned regulation. Similarly, the third-party vendor of a commercial bank or DMFI that provides EMI technology to give customers additional electronic access channels to their funds are not considered to be money service providers for the purposes of mentioned regulation.

Based on article 27 of EMI regulation, Electronic Money Institutions shall report their large cash transaction reports (LCTR) to FinTRACA, as to any transaction governed by this regulation, an EMI must report any transfer, inbound or outbound, of an amount equal to or greater than 10,000 AFN. Such transactions are known as “EMI Large Cash Transactions.” The report required hereby must be made to FinTRACA on a calendar-monthly basis and no later than the 5th business day of the month following the month covered (or to be covered) by the report.

Currently Central Bank has licensed following four Electronic Money Institutions:
No Title Website
1 Roshan Telecommunication Company - MSDA or (M-Paisa) www.roshan.af
2 Etisalat Telecommunication Company - M-Hawala website: www.etisalat.af
3 Afghan Wireless Communication Company - My-Money www.afghan-wireless.com
4 MTNA - Mobile Money Ltd https://www.mtn.com.af