Introduction

Foreign Exchange and Money Dealers Association of Nepal (FEDAN) is a not for profit organization registered with District Administration Office Kathmandu, on 20 th Poush 2052 B.S. (January 4, 1996 A.D.) under Organization Registration Act 2034 (1977).

FEDAN was established to acquire succession of the then organization namely Foreign Exchange and Money Dealers Association of Nepal having founder members Nepal Bank Limited, Rastriya Banijya Bank, Nepal Arab Bank, Nepal Indosuez Bank and Nepal Grindlays Bank Limited and operate the same accordingly.

Within the limitation of the prevailing Acts, laws and policies the objective and goals of FEDAN are:

1. To promote and develop inter-bank market and money market transaction in foreign exchange,
2. To make coordination and interaction amongst central bank, financial institution and governmental bodies in respect to banking activities relating to foreign exchange and money market.
3. To provide information about issues related to inter-bank foreign exchange and money market to general public.
4. To play role of arbitrator for settlement of problem if any divergence is created among the member banks of this association in respect to money transaction.

FEDAN has additional objective to maintain synchronization with national and international legal organizations and groups involved in activities identical and compatible with its goal, objective and procedures.