Vatican Bank Publishes Its Annual Report For The First Time Ever!!!

The Vatican’s bank has published its first annual report in its 125-year history as part of an attempt to become more financially transparent. In the report, President Ernst Von Freyberg, said the Institute for Religious Works (IOR) needed to be a well-respected member of the global financial community. “The annual report seeks to contribute to the transparency which the Catholic Church, our customers, our correspondent banks, our authorities and the public rightfully expect,” he said. Von Freyberg added that the bank had “been engaged in a process of far-reaching reform” to improve its organisation, compliance and transparency.- Business day.