Islamic Banking

Bank of Punjab Taqwa Islamic Banking — What It Actually Is

How BOP's Sharia-compliant Taqwa division works, what it offers, and how to find a dedicated Islamic branch.

• Sharia-Compliant
• 210 Islamic Branches
• Verified Sep 1, 2026

Written & reviewed by Dildar Hussain — 10+ years in Pakistani banking, BS Banking & Finance (NUML University)

Bank of Punjab Taqwa Islamic Banking is BOP's dedicated Sharia-compliant banking arm, run as a distinct segment within the bank rather than as a separately licensed entity. Here's what Taqwa actually offers, and how it differs from BOP's conventional branch network.

Taqwa Islamic Banking operates through its own network of Islamic branches, listed separately in BOP's official branch locator alongside "Conventional Branch Network" and "Islamic Branch Network (Temporarily Closed)" categories. BOP's financial statements report Islamic banking as one of its core operating segments, alongside Corporate & Investment Banking, Consumer Banking Group, and Treasury.

Taqwa Islamic Banking at a Glance

Segment Type

Division within BOP

Regulatory Basis

SBP Islamic Banking framework

Branch Access

210 Islamic branches

Careers

Hires under Consumer Banking Group (Taqwa)

Segment structure confirmed from BOP's official PSX-filed financial statements and its branch-network locator's Islamic Branch Network filter.

Taqwa Islamic Banking by the Numbers

Islamic banking segment figures confirmed from the "Islamic Banking Business" annexure of BOP's audited Annual Report 2025 and its un-audited Quarterly Report for the period ended March 31, 2026. BOP began Islamic banking operations in 2013.

What Taqwa Islamic Banking Offers

Finding a Taqwa Branch

Not every Bank of Punjab branch offers Islamic banking counters. Use BOP's official branch-network tool at bop.com.pk and select the "Islamic Branch Network" filter to confirm which locations near you operate under Taqwa specifically, rather than assuming your nearest conventional BOP branch offers the same products. Taqwa's 210 branches are distributed across BOP's nationwide footprint, including Lahore, Karachi, Islamabad, Multan, Faisalabad, and Peshawar, though not every city has the same density of dedicated Islamic branches versus conventional branches offering only an Islamic banking window.

Conventional vs Islamic Banking at BOP

If you hold a conventional BOP account and want to switch to Taqwa Islamic Banking products, this generally requires opening a new account under the Islamic segment rather than converting your existing conventional account, since the two operate under different Sharia-governance and product structures internally. Ask your branch specifically whether it operates as a full Islamic branch or only offers an Islamic banking window within a conventional branch, since the range of Taqwa products available can differ between the two setups.

Ask specifically about the Sharia-compliance certification and Shariah Board oversight applicable to any Taqwa product before committing, since this is what distinguishes it structurally from a conventional BOP product.

Who Sits on BOP Taqwa's Shariah Board

Rather than a vague reference to "Shariah Board oversight," it's worth knowing who actually signs off on Taqwa's product compliance. BOP Taqwa's Shariah Board comprises four members: Mufti Muhammad Zahid (Chairperson), who has 29 years' experience teaching Islamic and Arabic studies and serves as General Secretary of the Centre for Islamic Economics, Faisalabad, and on SBP's Regional Focus Group on Islamic Banking; Dr. Muhammad Mushtaq Ahmed, a PhD in Islamic Studies/Shariah specializing in Islamic banking practice; Mufti Rafey Ashraf Usmani, who completed his Takhassus-fi-Iftaa and Shahadat-ul-Aalimiyah at Jamia Darul Uloom, Karachi; and Muhammad Umar Irfan, the Resident Shariah Board Member (RSBM) who signs off on monthly profit-rate declarations for Taqwa deposit products.

The RSBM's monthly sign-off matters practically: each month's declared Mudarabah profit distribution for Taqwa savings and current accounts requires explicit Shariah Board approval before it's published — this isn't a rubber-stamp title, it's an active compliance checkpoint on the actual rate you receive.

Shariah Board composition and credentials sourced directly from BOP's official Shariah Board page (bop.com.pk). Confirm current board membership via the same page, since board composition can change.

Frequently Asked Questions

Good For

• Understanding what Taqwa Islamic Banking actually is within BOP
• Finding a dedicated Islamic branch instead of a conventional one
• Confirming Taqwa is a division, not a separately licensed bank
• Comparing Taqwa's account structure to conventional BOP accounts

Taqwa Schedule of Bank Charges

For the full fee schedule — cheque books, cards, lockers, remittances, Islamic financing, guarantees, and trade finance — see the Taqwa Islamic Banking Schedule of Bank Charges, current for July 1 – December 31, 2026.

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For independent verification, see State Bank of Pakistan, Pakistan Stock Exchange, Bank of Punjab Official Website.