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ST-1.4.2

Where a third-party model is used in stress testing, Islamic bank licensees must demonstrate a thorough understanding of:

(a) Methodology underpinning the external model;
(b) The third-party's approach to validating the model;
(c) Approach to implementing the model;
(d) Rationale behind any adjustments made to the external model's input data sets and output; and
(e) Limitations of the external model
July 2018