Back المؤسسة لأجل الأعمال الدينية Arabic Інстытут рэлігійных спраў Byelorussian Ватиканска банка Bulgarian Institut per a les Obres de Religió Catalan Institut pro náboženská díla Czech Istituto per le Opere di Religione German Instituto por Religiaj Aferoj Esperanto Instituto para las Obras de Religión Spanish بنیاد آثار مذهبی Persian Institut pour les œuvres de religion French
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Native name | Istituto per le Opere di Religione |
|---|---|
| Company type | Juridical canonical foundation[2] |
| Industry | Financial services |
| Founded | 27 June 1942 (absorption of the Administration of the Works of Religion) |
| Founder | Pope Pius XII |
| Headquarters | Vatican City |
Key people |
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| €30.59 million (2023)[3][page needed] | |
| AUM | €2.95 billion (2023)[3][page needed] |
| Total assets | €5.38 billion (2023)[3][page needed] |
| Total equity | €667 million (2023)[3][page needed] |
Number of employees | 107 (2023)[3][page needed] |
| Rating | Tier1 Ratio 59.78% |
| Website | ior.va |
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| This article is part of a series on |
| Vatican City |
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The Institute for the Works of Religion (Italian: Istituto per le Opere di Religione; Latin: Institutum pro Operibus Religionis; abbreviated IOR),[4][5] commonly known as the Vatican Bank, is a financial institution[2] that is situated inside Vatican City and run by a Board of Superintendence, which reports to a Commission of Cardinals and the Pope. It is not a private bank, as there are no owners or shareholders; it has been established in the form of a juridical canonical foundation, pursuant to its statutes.[2] Since 9 July 2014, its president is Jean-Baptiste de Franssu. The IOR is regulated by the Vatican's financial supervisory body ASIF (Autorità di Supervisione e Informazione Finanziaria).[6]
The Institute was founded in June 1942 by papal decree of Pope Pius XII. In June 2012, the IOR gave a first presentation of its operations. In July 2013, the Institute launched its own website.[7] On 1 October 2013, it also published its first-ever annual report.[8][9][10]
On 24 June 2013, Pope Francis created a special investigative Pontifical Commission (CRIOR) to study IOR reform.[11] On 7 April 2014, Pope Francis approved respective recommendations on the IOR's future which were jointly developed by the CRIOR and COSEA commissions and the IOR's management. "The IOR will continue to serve with prudence and provide specialized financial services to the Catholic Church worldwide", as the Vatican release stated.[12] On 7 April 2014, Pope Francis approved a proposal on the Institute's future, "reaffirming the importance of the IOR’s mission for the good of the Catholic Church, the Holy See and the Vatican City State".[12] On 30 January 2023, with a Chirograph published on March 7, Pope Francis revised the Statute, reaffirming that the purpose of the Institute is "to provide for the custody and management of movable and immovable assets transferred or entrusted to it by individuals or legal entities, intended for works of religion or charity."[13][14]
On 23 August 2022 Pope Francis signs a Rescript establishing that all financial resources of the Holy See and its associated institutions must be transferred to the Institute for the Works of Religion, which is to be considered the sole and exclusive entity responsible for asset management activities and the custodian of the Holy See's movable assets, as well as those of its departments, offices, and affiliated entities.[15][16]
- ^ Nick Squires (1 July 2023). "Head of Vatican bank resigns amid corruption scandal". The Telegraph.
- ^ a b c Pope Francis (8 August 2019). "Chirograph of the Holy Father for the new Statutes of the Institute for the Works of Religion".
- ^ a b c d e "Istituto per le Opere di Religione Annual Report 2023". 14 June 2023.
- ^ "Acta Apostolicae Sedis" (PDF). 31 December 2003.
- ^ "Acta Apostolicae Sedis" (PDF). 31 December 2007.
- ^ "Interview With Vatican Financial Oversight Director Ren Brlhart". Spiegel Online. Hamburg, Germany. 18 March 2013.
- ^ IOR launches website, Vatican Radio, 31 July 2013
- ^ IOR: IOR Annual Report 2012 Archived 8 October 2013 at the Wayback Machine
- ^ "Vatican bank publishes first ever annual report". BBC News. 1 October 2013.
- ^ Winfield, Nicole (1 October 2013). "Secretive Vatican bank takes step to transparency". AP. Archived from the original on 10 October 2013. Retrieved 1 October 2013.
- ^ "Vatican Radio". radiovaticana.va.
- ^ a b "Communique: Holy Father approves recommendations on the future of the Ior". vatican.va.
- ^ "Chirograph of the Holy Father for the new Statutes of the Institute for the Works of Religion (30 January 2023) | Francis". www.vatican.va. Retrieved 27 March 2025.
- ^ "Chirograph of the Holy Father Francis for the new Statutes of the Institute for the Works of Religion". press.vatican.va. Retrieved 27 March 2025.
- ^ "RESCRIPTUM EX AUDIENTIA SS.MI: Rescritto del Santo Padre Francesco circa l'Istruzione sull'Amministrazione e gestione delle attività finanziarie e della liquidità della Santa Sede e delle Istituzioni collegate con la Santa Sede". press.vatican.va. Retrieved 27 March 2025.
- ^ "«Entre 50 et 70 millions d'euros de déficits annuels»: alerte rouge sur les finances du Vatican". Le Figaro (in French). 22 March 2025. Retrieved 27 March 2025.
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