The Financial terminology project was initiated by the Department of Arts and Culture (DAC) in collaboration with the Financial Services Board (FSB). The project was identified around 2015 and its focus was to develop an English source text in the first phase of the project. The second phase was aimed at providing target term equivalents in the other 10 official languages, namely: Sesotho, Setswana, Sepedi, Tshivenḓa, Xitsonga, isiNdebele, Siswati, isiZulu, isiXhosa and Afrikaans. The target language equivalents provided in the 10 official languages will be used to promote and facilitate the implementation of consumer financial awareness and education projects.
In terms of terminology development principles, it is essential to involve other language experts in the process to promote inclusiveness in language issues. Therefore, TCS and FSB deemed it necessary to have working meetings and consultative workshops in an attempt to finalise the term equivalents in all official languages. The list of all language experts that were involved in the project is on the acknowledgements page.
This multilingual term list currently has 400 terms and it covers a wide spectrum of fields in the financial world, namely: insurance, pensions, retirement funds, wills, investments and capital markets, financial advisory and intermediary services, tax, credit, banking and general financial business. Terms were excerpted by TCS from the following FSB brochures and pamphlets: The Financial Services Board; The Role of the FSB; The Supervision of the South African Capital Markets; The Pension Fund Surplus; Retirement Funds; Collective Investment Schemes; Investors, Do you know your rights when investing in Shares?; Why would I want to buy Shares?; Role of Trustees; Capital Markets; What is The Purpose of the Financial Advisory and Intermediary Services (FAIS) Act?; What does the FSB do?; A Financial Guide for the Youth; Retirement; Unclaimed Pension Fund Benefits; What you need to know about a last will and testament; Important Tips for consumers when buying insurance policies; Assistance Business Brochures; Do you know enough about long-term
Multilingual Financial Terminology List insurance?; Why should I have a Will?; The FAIS Act; Financial Services Board Act; Long-term Insurance Act; Short-term Insurance Act; Pension fund Act, etc. Booklets from FSB Consumer Education Departments were also used: Use
your Money Wisely; Make the most of your Money; Make your Money Work for you. Other source material used: National Treasury Budget Review 2013; GEPF Members’ Guide; Inputs from South African Insurance Association (SAIA).
This multilingual terminology project is available to consumers in general. The link https://artsculturesa.wordpress.com/terminology-list can be accessed on the DAC website.