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Vatican bank plans website launch, annual report

.- The institution often called the Vatican bank will launch a new website and begin publishing its annual report, as it continues to improve its transparency and image.

News of the latest efforts was announced by the Institute for Works of Religion’s new president, Ernst von Freyberg, during a May 13 meeting with the staff.

He was appointed by Benedict XVI on Feb. 15 as part of an ongoing effort to revamp the institute by updating its controls against money laundering and the financing of terrorism.

At the Monday meeting, von Freyberg “expressed his appreciation for the efforts of all, for the high professionalism and the positive results achieved” during his first three months at the helm, Vatican Radio said in a May 14 report.

He also revealed that the institute has obtained the services of an “international  organization” to ensure that its transactions meet international and Vatican money-laundering standards.

The main purpose of the website is to increase communication with the public about what the institute does, and it will not offer online banking.

In June 2012, the director of the institute, Paolo Cipriani, told the press that it oversees about 6 billion euros ($7.4 billion) in assets and has around 33,000 accounts.

Tags: Vatican Bank, Vatican Finances


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Saint Bernard, Abbot and Doctor of the Church

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