Development of Islamic Stock in Europe

Abstract

This study aims to analyze the development and research trends of Islamic stock markets in Europe through a bibliometric approach. The data used in this research consist of 48 scientific articles indexed in the Scopus database related to the topic “Islamic Stock in Europe.” The study employs VOSviewer to visualize bibliometric networks, including co-citation and keyword co-occurrence analysis. The findings reveal that the literature on Islamic stocks in Europe can be categorized into four main research clusters: (1) market performance and global shock dynamics, (2) regional and institutional landscape in Europe, (3) sustainability and emerging analytical models, and (4) risk, volatility, and financial stability. The results indicate that Islamic stock markets demonstrate resilience during global financial crises, although their diversification benefits remain limited. Furthermore, research focusing on the European context and sustainability aspects is still relatively scarce, suggesting significant opportunities for future studies. This study contributes to the literature by providing a comprehensive research map and identifying potential research directions in the field of Islamic finance, particularly within the European stock market context.