Minister of Religious Affairs and Waqfs, Youcef Belmehdi, announced on Saturday the regularization of nearly 5,000 waqf (endowment) properties out of more than 14,500 reclaimed. During the inauguration of a training symposium for those responsible for managing and supervising activities of the National Office for Waqfs and Zakat, Belmehdi highlighted ongoing efforts to reclaim and digitize waqf properties in Algeria. He emphasized that identifying all waqf real estate will enable the determination and control of future investments in these properties.
The minister underscored the importance of investing in waqf properties and taking care of them by all possible means. He added that the National Office for Waqfs and Zakat plays a significant role in achieving this purpose, as well as in the development of these properties.
Belmehdi also stated that waqfs, which contributed to preserving the national identity in the past, could now contribute to sustainable development in the country. This aligns with the strategic vision of President Abdelmadjid Tebboune.
He noted that the forthcoming Waqf Law, to be presented to the government, will be a “game changer in the field of legislation for this sector, especially since it has not been amended since 1991.”
Belmehdi emphasized the necessity of utilizing waqf properties as an investment stream in Algeria by creating new job opportunities, generating wealth, and contributing to local development.
