Statement of the problem and the rationale for the study 1
Vietnam's economy is thriving due to robust international integration across various sectors, including industry, agriculture, and services This growth has led to increased interest in fields such as finance and banking, which offer a modern working environment, competitive salaries, and numerous advancement opportunities As a result, finance and banking are becoming increasingly appealing to both global and local talent.
English has become an essential tool for global communication in trade and commerce While learning communicative English presents its challenges, mastering technical English, particularly in finance and banking, proves to be even more difficult As a fourth-year fast-track student in the Faculty of English Language Teacher Education at the University of Languages and International Studies, Vietnam National University, the researcher has faced difficulties in grasping financial and banking terminology due to a lack of background in the field However, these challenges have fueled the researcher’s motivation to invest additional time and effort into understanding these terms.
As an English translation and interpretation student with a deep passion for the field, the researcher is particularly interested in translating the terminologies found in the course book titled "Return."
In 1999, Associate Professor Nguyễn Xuân Thơm authored "English for Finance and Banking," prompting the researcher to conduct further investigations by collecting pertinent materials on the subject.
As a student outside the banking and finance fields, the researcher recognizes the challenges of this study However, driven by a strong desire to understand the translation processes for English financial and banking terms, the researcher aims to identify effective methods that will aid translators in navigating this specialized area.
Aims and objectives of the study 2
This paper aims at investigating the English – Vietnamese translation of financial and banking terminologies provided in the book “English for Finance and
Banking” written by Associate Professor Nguyễn Xuân Thơm and published by Thế
Specifically, this paper focuses on answering the following questions:
- What translation procedures are used to translate the English financial and banking terminologies in the book?
- What is the most dominant translation procedure that is applied in the book?
Significance of the study 2
This paper is expected to provide an overview on the English - Vietnamese translation of financial and banking terminologies used in the book “English for
"Finance and Banking" by Associate Professor Nguyễn Xuân Thơm serves as a valuable resource for English major students seeking to enhance their understanding of translation within the context of finance and banking This paper also provides practical insights and serves as a reference for translators looking to improve their skills in translating financial and banking terminology.
Scope of the study 3
This article focuses on the English-Vietnamese translation of financial and banking terminology as presented in "English for Finance and Banking," authored by Associate Professor Nguyễn Xuân Thơm in 1999 It primarily examines the translation procedures utilized for the terms outlined in the book.
Organization of the study 3
The paper consists of five chapters as follows:
Chapter 1 - Introduction presents the rationale, the aims and objectives, the significance, and the scope of the study
Chapter 2 – Literature review supplies theoretical backgrounds for the paper
To be specific, key terms related to the context of the study, i.e translation and terminologies would be explained in various aspects and related studies will be discussed
Chapter 3 – Methodology introduces the methods such as qualitative and quantitative methods that are utilized in the study
Chapter 4 – Results and discussion analyzes the collected data in order to answer the research questions
Chapter 5 – Conclusion summarizes the issues discussed in the study, the limitations of the study as well as suggestions for further studies
In this section, overviews of translation and terminology are presented
Translation is both a process and a product, as defined by the Oxford Advanced Learner's Dictionary It involves changing written or spoken content into another language, resulting in a text or work that has been transformed from its original language.
Translation, as defined by Eugene Nida, involves creating a natural equivalent in the receptor language that captures the meaning and style of the source language message.
In the viewpoint of Catford (1965, p 20), translation lies in “the replacement of textual material in one language (SL) by equivalent textual material in another language (TL)”
Peter Newmark (1981) defines translation as a craft that involves the effort to convey a written message or statement from one language into another, maintaining its original meaning.
Translation is defined as a process that aligns the meaning and expression of one language (source) with that of another (target), regardless of whether the medium used is spoken, written, or signed (Crystal, 1991).
As perceived by Bassnett (2002), translation involves
Translation involves converting a source language (SL) text into a target language (TL) while ensuring that the surface meaning remains similar and the structural integrity of the SL is maintained without distorting the TL (Bassnett, 2002, p 13)
Newmark (1995, pp 23-24) argues that there are four levels “more or less consciously” in the mind of the translator during translating summarized as follows:
(1) The textual level: at this level, the translator may make certain
Conversions involve rearranging the source language grammar into its prepared target language equivalents while translating lexical units to fit the immediate context of the sentence This process is regarded as the foundational level of translation.
The referential level involves the visualization and construction of objects and events, both real and imaginary, that a translator must progressively engage with This level is crucial for understanding the text and plays an essential role in the reproduction process of the translation.
The cohesive level connects the structural and emotional elements of a text, reflecting its overall thought process and tone, whether positive or negative This level involves both understanding and reproducing the content, providing a comprehensive view that may require the translator to modify language aspects such as paragraph and sentence lengths, title formulation, and conclusion tone to ensure coherence and appropriate emphasis.
The level of naturalness in language involves assessing its appropriateness for specific situations, focusing solely on reproduction Achieving this level requires translators to progress gradually through common to less common linguistic features, as it cannot be instinctively acquired Moreover, naturalness is not universal; it varies based on the relationship between the writer, the audience, and the context or topic at hand.
Naturalness can vary significantly between different contexts To assess what feels natural, it is beneficial to engage with representative texts and converse with native speakers, as well as to consume content from relevant TV and radio sources for feedback and corrections.
The complete translation process proposed by Newmark consists of four interconnected levels that, while distinct, continuously influence and may conflict with one another.
Given the extensive variety of translation procedures proposed by scholars worldwide, it is impractical for researchers to review all existing literature within the scope of this study Additionally, many of these procedures may overlap or differ only in terminology Therefore, this study focuses on seven widely recognized translation procedures introduced by Vinay and Darbelnet.
(1995), have been selected for literature review in order to avoid complexity and confusion for the author himself and the readers as well
Language is constantly evolving, influenced by societal changes that introduce new ideas, concepts, and inventions As a result, lexis must adapt to reflect this extra-linguistic reality Many words emerge through interactions with other languages and cultures, leading to the widespread use of terms like "Internet," "blog," and "web," known as loanwords This phenomenon highlights the borrowing process in translation, showcasing how languages integrate and evolve over time.
According to the Oxford Advanced Learner's Dictionary, borrowing refers to the act of taking a word, phrase, or idea from another person's work or from a different language and incorporating it into one's own.
Vinay and Darbelnet (1995) describe borrowing as the most straightforward translation procedure, primarily used to address gaps in language, particularly when introducing new technical processes or unfamiliar concepts Additionally, borrowing can create a stylistic effect, incorporating elements of the source language's culture into the translation through the use of foreign terms.
Newmark (1995, p 81) calls this procedure as “transference” and defines it as
“the process of transferring a SL word to a TL text” He emphasizes that this procedure is advisable for translating