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Catholic World News

Pope issues new statutes for Vatican bank

March 07, 2023

» Continue to this story on Vatican Press Office

CWN Editor's Note: Pope Francis has issued new statutes for the Vatican bank, the Institute for Religious Works (IOR).

The new statutes are issued to bring the IOR into conformity with the standards set by Praedicate Evangelium, and to confirm the mission of the bank “to provide for the care and administration of movable and immovable goods transferred or entrusted to it by individuals or legal persons and intended for religious or charitable works.”

The statutes strengthen the role of the IOR’s Director General, who is appointed by a Board of Superintendence: a body of seven members chosen for their financial expertise. The IOR is also supervised by a Commission of Cardinals with five members. The members of both boards are appointed for five-year terms.

The above note supplements, highlights, or corrects details in the original source (link above). About CWN news coverage.

 


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