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-

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