Faith Community at WordsFree.org
August 18, 2017, 03:13:22 PM *
Welcome, Guest. Please login or register.

Login with username, password and session length
News: Wordsfree is on a New Server again! (April 2017)
We moved from Azure to a new cloud solution that should be more stable, and importantly: cheaper! -- Matt
 
   Home   Help Search Login Register  
Pages: [1]   Go Down
  Print  
Author Topic: Pope Francis sets up commission to review Vatican bank  (Read 803 times)
Alan
Administrator
Forum Fanatic
*****

Karma: +89/-5038
Offline Offline

Posts: 5544


Evolving...

piggysiggy
View Profile Email
« on: June 28, 2013, 11:57:30 AM »

Pope Francis sets up commission to review Vatican bank

http://www.bbc.co.uk/news/world-europe-23063255



Pope Francis, seen here at the Vatican on Sunday, has given the new commission carte blanche to investigate the troubled bank

A commission of inquiry has been set up by Pope Francis to review the activities of the Vatican bank, following recent scandals.

Earlier this month, he named a trusted cleric to oversee the management of the bank, which is known officially as the Institute for Religious Works.

The institution, one of the world's most secretive banks, has been beset by allegations of money-laundering.

It has 114 employees and $7.1bn (4.6bn; 5.4bn euros) of assets.

Continue reading the main story
Analysis


David Willey
BBC News, Rome
Pope Francis has given the commission carte blanche, bypassing normal secrecy rules, to try to get to the bottom of scandals which have plagued the bank for decades.

The Institute for the Works of Religion was a major shareholder in the Banco Ambrosiano, a big Italian bank which collapsed in 1982 with losses of more than $3bn. Its chairman, Roberto Calvi, was found hanging from Blackfriars Bridge in London - murder disguised as suicide. Mr Calvi had close relations with the Vatican.

More recently, the Vatican's bank has been accused of money laundering. In 2010, the then Pope Benedict set up a financial information authority to monitor its international transactions and to ensure that rules on money laundering and the financing of terrorism were being respected.

Inspectors from Moneyval, an international banking watchdog based in Paris, went through the bank's books and reported that there was still some way to go before the Vatican bank could be granted "white list" status.

The new commission is tasked with ensuring the bank operates in "harmony" with the mission of the Church.
« Last Edit: June 28, 2013, 11:59:44 AM by Alan » Logged

... love, joy, peace, patience, kindness, generosity, faithfulness, gentleness, self-control. Against such there is no law.
Pages: [1]   Go Up
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.18 | SMF © 2013, Simple Machines Valid XHTML 1.0! Valid CSS!