Islamic bonds trail emerging market debt
Islamic bonds trailed emerging-market debt for a second year, a trend that is expected to continue this year. Compared with a 18.5 per cent yield for developing-nation securities, Global Sharia-compliant notes gained 9.6 per cent last year.
Falling yields have helped to push worldwide sales of debt that comply with Islam's ban on interest, and sales may increase this year as new countries including Oman, Tunisia and Egypt tap the Sharia-compliant capital market for the first time.
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