Islamic banking is a financial system based on Shariah Law, which is based on the Quran. The biggest difference is that there is no use of interest, known as riba.  This is because the generation of profit should include some type of mental or physical effort, money can't create more money by itself.  In addition to riba, gharar or the requirement that all risks must be disclosed and known by both parties.  This eliminates speculation as a way to profit.

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Innovation by the Islamic community has led to the development of products that achieve similar results and uses as traditional products but comply with Shariah Law.  One of these products is the Sukuk.  Sukuk is a fixed income product similar to bonds.  Explained by Dr. Root, "The borrower issues a certificate (representing the asset), the lender then rents the asset back to borrower for a predetermined fee and the borrower agrees to buy back certificate a par value in future."

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Although these products are not necessary to succeed in the UAE they provide diversification opportunities in a rapidly growing sector.  In recent years Dubai overtook Malaysia as the worlds largest market for Sukuk, with market listings booming from $7billion in 2013 to $36.7billion in 2015. While this growth is certainly impressive the UAE is also working to introduce additional Islamic products in its markets in order to become a global financial center for traditional and Islamic products.