This Module contains the CBB’s Directive (as amended from time-to-time) relating to credit risk management in Islamic bank licensees and is issued under powers available to the CBB under Article 38 of the of the Central Bank of Bahrain and Financial Institutions Law (Decree No. 64 of 2006) (“CBB Law”). This Module is applicable to all Islamic bank licensees. Branches of foreign bank licensees shall comply with the requirements in this Module unless stated otherwise under relevant paragraphs of the Module.