Deutsche Bank and Goldman Sachs have been engaged to handle the issuing of Islamic bonds in the Dubai International Financial Centre. This news was confirmed by a Deutsche Bank official on Sunday. Geert Bossuyt, head of Middle East structuring at Deutsche Bank, said that the DIFC will invite investors to the first in a series of presentations this week in Kuala Lumpur to promote the bonds. Islamic bonds do not pay interest, which is banned as usury under Islamic law, and are structured as profit-sharing or rental agreements underpinned by physical assets. The DIFC, a dollar-based investment zone in the Gulf region, is bringing together investment banks to act as market-makers for Islamic bonds, or sukuk, listed on its new bourse, the Dubai International Financial Exchange. Khalid Yousaf, director of Islamic finance at the DIFC, said in September the DIFC was expecting global sukuk issuance to top $100 billion in five years, compared with around $13 billion at the time. Much of the growth will be driven by issuers based in Gulf oil exporters. DIFC Investments, a unit of Dubai International Financial Centre, bought a 2.2 per cent stake in Deutsche Bank this month.