The General Directorate of Foundations (VGM) consists of a large number of registered offices established before 1926. In accordance with Law on Establishment and Duties of the General Directorate of Foundations No. 2762, the assets and properties of registered foundations are administered and managed by VGM. VGM was established in 1924 as a state entity operating directly under the Prime Ministry and was appointed to manage, direct and regulate existing and future Turkish relief foundations.
VGM is an independent legal entity and has its own budget. In order to manage the incomes and expenses of the foundations, the right to set up a bank subject to the establishment law was granted to VGM.
For more information, please visit www.vgm.gov.tr.