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Catholic World News

Vatican bank wins ‘white list’ rating from Italian regulators

April 05, 2017

The Vatican bank, the Institute for Religious Works (IOR) has won a place on the “white list” of banks certified as meeting Italian standards.

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Italy’s economic minister, Pier Carlo Padoan, has listed the Vatican among the countries that are regarded as providing adequate documentation for financial transactions. The “white list” rating is a landmark for the IOR, which has undergone a series of reforms in its quest to conform to European banking rules.


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