The Institute for the Works of Religion, often referred to as the Vatican bank, made a profit of 38 million euros in 2019, more than twice the profit reported in the previous year, according to its annual report. In the report, which was released by the Vatican on 8th June, Jean-Baptiste de Franssu, president of... Read More
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Pope Francis has approved new statutes for the Institute for the Works of Religion, often referred to as the Vatican bank, which include structural changes and a mandatory external audit. The renewed statutes, which were approved by the pope ‘ad experimentum’ (on a trial basis) for two years, were revealed on Monday. The pope emphasised... Read More
Wayne Rooney has been branded “highly irresponsible” over his multi-million pound deal with a gambling firm. Rooney hit headlines earlier this week as it was announced that the former Manchester United star would be making his return to English football as a player-coach. The 33-year-old will complete the current Major League Soccer (MLS) season with... Read More
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The Institute for the Works of Religion, often referred to as the Vatican bank, made a profit of 17.5 million euros in 2018, just over half the profit they reported in the previous year, according to its annual report. The bank, which had made a profit of 31.9 million euros in 2017, said the decrease... Read More
Indian officials are seeking to freeze bank accounts of the Missionaries of Charity following the arrest of a nun on child trafficking charges in Jharkhand state. Ucanews.com reported that in an 11th July request to India’s home secretary, state police chief D.K. Pandey said the freeze would facilitate an investigation into possible violations of foreign... Read More
A Vatican court found two former top managers of the Vatican bank liable for mismanagement and ordered an injunction for them to pay damages. The sentence was announced on Tuesday 6th February by the bank, formally known as the Institute for the Works of Religion, or IOR in Italian. It did not specify the amount... Read More
Continuing its reform and efforts to promote financial transparency, the Vatican bank published its annual report for the 2015 fiscal year. The Institute for the Works of Religion, as the bank is formally known, released the report on 12th May and presented the document during a round-table event with Vatican Radio and L’Osservatore Romano, the... Read More
