Business English Lesson – Advanced Level''''s archiveIslamic Finance potx

Business English Lesson – Advanced Level's archive
Islamic Finance
1. With the modern Islamic financial services industry
enhancing its sophistication, an increasingly affluent
Muslim-investor population has started to express its
desire for more investment products that to Islamic
principles.

absolve
absorb
adhere
admit
2. Coinciding with this surge in demand is the more
significant role that Islamic finance plays in the global
financial community; with respect to the breadth and range
of products and services offered, the distinct line that once
separated Islamic financial institutions from their
conventional counterparts is

blurring
drifting
erasing
smudging
3. The basic principle of Islamic banking is the prohibition
of riba ( or interest); it also prohibits dealing in liquor,
pork, gambling, pornography and anything else that
Shari'a (Islamic law) deems haram (unlawful).

avarice
principal
usury

venery
4. While permitting the individual the right to seek his
economic well being, Islam makes a clear distinction
between what is halal (lawful) and what is haram
(forbidden) in pursuit of such economic activity; in
terms, Islam forbids all forms of economic activity that are
morally or socially injurious.

bare
broad
certain
clear
5. While acknowledging the individual's right to ownership
of legitimately acquired wealth, Islam makes it obligatory
for the individual to spend his wealth judiciously and not to
it, keep it idle or to squander it.

cache
conceal
harbour
hoard
6. While allowing an individual to retain any surplus
wealth, Islam seeks to reduce the margin of the surplus for
the well being of the community as a whole, in particular
the and deprived sections of society by participation
in the process of zakat.

despicable
destitute
disparaged

distraught
7. While making allowance for the ways of human nature
and yet not yielding to the consequences of its worst
propensities, Islam seeks to prevent the accumulation of
wealth in a few hands to the of society as a whole,
by its laws of inheritance.

decadence
deterrence
detriment
discouragement
8. Viewed as a whole, the economic system by
Islam aims at social justice without inhibiting individual
enterprise beyond the point where it becomes not only
collectively injurious but also individually self-destructive.

elaborated
elicited
enacted
envisaged
9. It has been over two decades since Islamic banks first
appeared as active players in the global financial market,
and today Islamic banking and finance has become a
force to be reckoned

at
on
with
(none)
10. Although the Middle East is still home to most of the

world's 275-plus Islamic banks, a growing number of
banks operating in the marketplace are elsewhere.

domesticated
domiciled
predicated
premised