VATICAN CITY — The Vatican Bank confirmed a commitment to full financial transparency Oct. 1 by publishing its first annual report.
With the report’s publication, the Vatican Bank — known officially as the Institute for the Works of Religion — fulfills a promise made in May by its president, Ernst Von Freyberg. The bank receives and administers funds for charitable activities, especially in the developing world.
At that time, Pope Francis had yet to appoint a pontifical commission to advise him on the bank, headed by Cardinal Raffaele Farina, former librarian of the Vatican Library and archivist of the Vatican Secret Archives.
The report’s publication comes as the Vatican Bank’s...READ MORE