April 23 (Bloomberg) -- Islamic bond sales by Asian nations seeking a larger share of Muslim wealth are bringing 'vitality ' to an otherwise dormant market for the securities, known as sukuk, according to Moody’s Investors Service.

Sales by Singapore and Indonesia show regional governments “are likely to continue their efforts to position themselves as efficient platforms for sukuk issuance,” Moody’s said in a report today.

Indonesia’s first international sale of dollar sukuk drew orders for $4.7 billion, seven times the $650 million of securities on offer, debt management office Director General Rahmat Waluyanto said April 17. The Monetary Authority of Singapore in January sold Shariah-compliant bonds as the city seeks to attract a larger pool of international investors.

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