This Module contains the CBB's Regulations relating to Licensing Requirements and is issued under the powers available to the CBB under Articles 38 to 41, 44 to 48 and 180 of the Central Bank of Bahrain and Financial Institutions Law 2006 ('CBB Law'). The Directive in this Module is applicable to all Islamic bank licensees (including their approved persons). For an explanation of the CBB's rule-making powers and different regulatory instruments, see Section UG-1.1.