A study assessed the performance of several Islamic stock exchanges, including Bursa Malaysia and the Dubai Financial Market, to gauge their effectiveness in serving investors and fostering Islamic finance growth. They analyzed market liquidity, volatility, and risk-adjusted returns to evaluate exchange performance and identify areas for improvement. This research aims to inform market participants, policymakers, and investors about the current state of Islamic stock exchanges and promote their efficiency and competitiveness, ultimately contributing to the development of Islamic finance as a key player in the global financial system. Keywords: Islamic finance, Islamic stock exchanges, performance assessment, market liquidity, volatility, risk-adjusted returns, investor needs, Islamic finance growth, market efficiency, competitiveness.