It was established under the authority of Prime Minister of Turkey, İsmet İnönü on 3 March 1924,[1] alongside the Directorate of Religious Affairs (Turkish: Diyanet İşleri Başkanlığı).
This ministry had survived the Turkish War of Independence into the Republican era and the 1st government of Turkey.
Aside from its stated responsibilities, a secondary aim was to enable the confiscation by the state of properties belonging to traditionally non-Muslim minorities, including Jews, Greeks, and Armenians, by transferring such properties into foundations so that they could be placed under the administration of the Vakıflar Genel Müdürlüğü.
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.
It also handles charity organisations, such as food or monetary support, based on the charters of the managed foundations.