Directorate General of Foundations (Turkey)

The Directorate General of Foundations (Turkish: Vakıflar Genel Müdürlüğü), founded 2 May 1920, is a Turkish governmental institution that manages and audits religious foundations dating back to the Ottoman Empire and that still exist today. The directorate was first appointed under the authority of Prime Minister of Turkey on 3 March 1924.[1]

A secondary aim was to enable the confiscation by the state of properties belonging to non-Muslim religious minorities (such as Jews, Greek Orthodox Christians and Christian Armenians) by transferring such properties into foundations so that they could be placed under the administration of the VGM. Initially, this allowed the state to control and harass members of religious minorities; however, 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.[2] A notable example of this was the confiscation of the Tuzla Armenian Children's Camp in 1984.

The directorate manages the estates and restorations of around 18,500 historical buildings and 67,000 estates.[3] 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.[4] 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[5] 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.[6]

References

  1. ↑ Foundations Law of Republic of Turkey (Turkish). http://www.vgm.gov.tr/icerikdetay.aspx?Id=62
  2. ↑ Jeremy F. Walton, Muslim Civil Society and the Politics of Religious Freedom in Turkey, footnote 33 page 27. Oxford University Press, 2017.
  3. ↑ Official Site of the Directorate of Foundations. http://www.vgm.gov.tr/index.aspx?Dil=EN
  4. ↑ Summary of actions of the directorate. http://organizations.vgm.gov.tr/sayfat.aspx?Id=VGM
  5. ↑ Vakifbank - Ownership Structure
  6. ↑ Turkey considering draft law to transfer $2.5 bln VakifBank stake -Islamic lender chairman


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