Global Islamic bond issuance to hit record in 2020, Moody's says

KUALA LUMPUR -- The global issuance of sovereign Islamic bonds is expected to exceed a seven-year-old record by 2020, Moody's Investors Service said in a report issued on Tuesday.

The recovery will be supported by the governments of Muslim-majority nations that are running fiscal deficits and need to pay off previous issues with new Islamic bonds, according to the credit rating agency.