Similarities
1. There are Riffs led by a guy called the Red Shadow in a revolt against colonialism by countries based on France and Spain
2. The Red Shadow wears a red cloak (but no mask)
3. Azuri is a mixed-race girl and a dancer

Differences
1. No racial impersonation aspect- the Red Shadow is an Arab chieftain who is very reluctant to begin a revolt.
2. The Red Shadow infiltrates the fort as a camel handler
3. The R.S.'s elusiveness is at least partly due to magic
4. The romance aspect is played down.