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Vatican

Vatican comments on situation of missing Chinese Bishop Shao Zhumin

June 26, 2017. Bishop Peter Shao Zhumin, from Wenzhou in Continental China, was taken into custody by Chinese police on Easter weekend 2017. While recognized as a bishop in the Catholic Church, he is an unofficial bishop or "underground” in China, since the Chinese government does not recognize him as religious.
Pope Francis

Pope Francis' complete schedule for Colombia trip

June 23, 2017. He will go to Colombia September 6-11.
Vatican

Bruno Marie Duffé, new secretary of the Department for Integral Development

June 16, 2017. Thepope has named French priest Bruno Marie Duffé, from Lyon, number two of the Dicastery for Promoting Integral Human Development. He will be in charge of one of the key offices in the Vatican Curia.
Pope Francis

Angela Merkel to meet with pope on June 17

June 9, 2017. The Vatican has confirmed that on Saturday, June 17, German Chancellor Angela Merkel will meet with Pope Francis. Both have previously met in Rome in May 2016, February 2015 and May 2013, two months after Pope Francis was elected pontiff.
Pope Francis

Pope Francis to meet with Venezuelan bishops on June 8

June 5, 2017. Pope Francis will meet with Venezuelan bishops next Thursday to discuss the situation their country is facing.
Vatican

New secretary of the Dicastery for Laity, Family and Life

May 31, 2017. The Brazilian priest Alexandre Awi Mello, the National Director of Brazil's Schönstatt Movement, will serve as the new secretary. He was born Rio de Janeiro in 1971, and ordained a priest in 2001.

The Vatican bank by the numbers

2014-03-23

The Institute for the Works of Religion is the main financial center for the Holy See. It employs 114 people, and oversees 18,900 accounts worth over $8.6 billion. The IOR, more commonly known as the Vatican bank, has over $1 billion in equity, and in 2012 posted a $119 million profit.

In 1942, the Vatican founded the bank to provide Catholic institutions a secure way to manage their assets, without losing money. Its services are restricted to religious orders, Vatican employees, Catholic organization affiliated with the Vatican, and ambassadors accredited to the Holy See.

Soon, the Vatican bank's favorable conditions attracted questionable clients, causing scandals and headaches for the Vatican. As a result, Benedict XVI and Pope Francis ordered a review, to bring the troubled institution up to par with international norms on transparency, and fighting money laundering. The Council of Europe said these changes are on the right path.

Last year, the Vatican hired consulting firm Promontory Group to scrutinize the bank's accounts for missing information. In addition, it appointed Ernst & Young to review the IOR, as part of a yearly internal audit the Vatican's Financial Information Authority requires by law.


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