Amid discussions over the complexity of Turkey's waqf system, a religious association was established with capital of just two million lira.
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A religious association has been founded with a low capital of two million Turkish lira, following President Recep Tayyip Erdoğan's emphasis on the importance of transferring the waqf system to future generations.
Öztürk Oran, a board member of the Waqf Participation Bank, and members of his family took this step.
The decision raises questions about oversight of the establishment of such associations and the regulatory framework governing them.