
Directorate General of Foundations (Turkey)

The Directorate General of Foundations (), founded 2 May 1920, is a Turkish governmental institution that manages and audits waqfs () (an inalienable charitable endowments under Islamic law) dating back to the Ottoman Empire and that still exist today.
History.
The establishment of the Vakıflar was part of Atatürk's Reforms. It was established under the authority of Prime Minister of Turkey, İsmet İnönü on 3 March 1924, alongside the Directorate of Religious Affairs ().
These two departments replaced the Ottoman era ministry with the responsibility of governing Islamic affairs, the Ministry of Sharia and the Foundations (). This ministry had survived the Turkish War of Independence into the Republican era and the 1st government of Turkey.
Starting in the 1950s and 1960s, the VGM would frequently seize and dispose of real-estate assets belonging to religious minorities on the basis of dubious court decisions. A notable example of this was the confiscation of the Tuzla Armenian Children's Camp in 1984.
Responsibilities.
The directorate manages the estates and restorations of around 18,500 historical buildings and 67,000 estates. The directorate employs about 38,000 people. It also handles charity organisations, such as food or monetary support, based on the charters of the managed foundations. Currently, actions of 4,500 foundations are audited by the directorate.
As of March 2017 the Directorate General of Foundations has a 58.5% share stake in Vakifbank In May 2017, reports emerged that the Turkish government was considering a draft law to transfer that 58.5 percent stake, worth around $2.5 billion, to Vakıf Katılım Bankası because it is sharia-compliant.