According to the Constitution of Bangladesh Foreign Exchange Dealers' Association, the objectives of the Association are:
- To create and promote inter-bank foreign exchange dealings and develop good fellowship that are indispensable in foreign exchange dealings and relations;
- To function in the best interest of the members and also to do all such other things as may be necessary or desirable in furtherance of the objectives of the Association;
- To arrange that the foreign exchange dealers of member banks keep one another informed and they render assistance to one another without prejudice to the interests of their respective institutions;
- To do all that is necessary in the power of the Association and the members, collectively and individually, and also to uphold high standards of ethics by rendering quality service in foreign exchange dealings.
For smooth functioning of the inter-bank foreign exchange market, a "Code of Conduct" for Bangladesh
Inter-Bank Foreign Exchange and Treasury Operations and also 'BAFEDA Rules' were formulated earlier,
with the approval of Bangladesh Bank.
But it has been found necessary to revise & update the 'Code of Conduct for Treasury Operations' and 'BAFEDA Rules'. Accordingly, BAFEDA Guidelines for foreign exchange Transactions has been framed incorporating the provisions of 'Code of Conduct for Treasury Operations' and 'BAFEDA Rules' with necessary amendments.