What movie has a boy thief and a giant human looking genie?

This is a movie from my childhood. It's live action with fake looking special effects. The story is about a child thief (A la Aladdin) that met up with a Human Genie. I remember one scene of the boy hanging onto the genie by his pony tail. I also remember he had a crossbow like weapon that shot sickles. I first saw it in the philippines as a 7 year old refugee.