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. 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.