CM-A.3 CM-A.3 Regulation history
CM-A.3.1
This module was first issued on 1st January 2005 as part of the Islamic principles volume. All regulations in this volume have been effective since this date. All subsequent changes are dated with the month and year at the base of the relevant page and in the Table of Contents. Chapter 3 of Module UG provides further details on Rulebook maintenance and control.
CM-A.3.2
A list of most recent changes made to this module are detailed in the table below:
Summary of changes
Module Ref. Change Date Description of Changes CM-2.2 1/10/05 Role of Internal audit becomes a rule CM-7.4 1/10/05 Clarification re non-compliant facilities Evolution of the Module
CM-A.3.3
Prior to the development of this Rulebook, the Agency had issued various circulars representing regulations covering different aspects of credit risk management. These circulars have now been consolidated into one module covering the credit risk management regulation. These circulars and their evolution into this module are listed below:
Circular Ref. Date of Issue Module Ref. Circular Subject BC/3/98 21 Feb 1998 CM-B.2 Basel Committee on Banking Supervision Framework for the Evaluation of Internal Controls Systems BC/117/95
(partial)1 Feb 1995 CM-1–CM-3 Risk Management OG/127/01 18 Mar 2001 CM-2 Developing a Sound Credit Culture OGD/27/88 9 Feb 1988 CM-3.4 Provisions Against Country Debt PIRI Pack - - - - - CM-4 Prudential Information Returns for Islamic Financial Institutions EDBC/178/96 5 Oct 1996 CM-5 Islamic Facilities OG/45/88 13 Mar 1988 CM-6.1 Write-Off–Credit Facility OG/50/92
(partial)4 Mar 1992 CM-7.1–CM-7.2 Consumer Finance PIRI Pack - - - - - CM-8 Prudential Regulations for Islamic Financial Institutions EDBC/105/96 26 June 1996 CM-8.3 Mudaraba Contracts — Minimum Terms and Conditions BC/4/99 17 Mar 1999 CM-9.1 Annual Accounts for the Year Ending 31 December 1999 Effective date
CM-A.3.4
The contents in this module are effective from the date depicted in the original circulars (see paragraph CM-A.3.3) from which the requirements are compiled.
