Islamic finance routes money through trade, lease and partnership contracts instead of interest. Dubai Islamic Bank has run the model since 1975, and every Saudi bank operates under it by law.
A sukuk is a certificate giving a share in an asset or venture, paying profit rather than interest. Saudi Arabia's finance ministry and Gulf corporates issue them in billions; here is how the structures differ.
Trading DFM stocks needs an investor number, a licensed broker and a few hundred dirhams in fees. Non-residents can open accounts, and there is no tax on individual equity gains.
Tadawul runs the Arab world's largest equity market: about $25.6 billion was raised in Saudi Aramco's 2019 listing, the biggest IPO on record, and foreign investors have direct access since 2015.