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Institute for Works of Religion
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ISBN10: 6130785399
ISBN13: 9786130785390
Publisher: Alphascript Pub
Pages: 112
Weight: 0.38
Height: 0.26 Width: 9.01 Depth: 5.98
Language: English
ISBN13: 9786130785390
Publisher: Alphascript Pub
Pages: 112
Weight: 0.38
Height: 0.26 Width: 9.01 Depth: 5.98
Language: English
High Quality Content by WIKIPEDIA articles! The Institute for Works of Religion commonly known as Vatican Bank is located inside the Vatican City. It is run by a professional bank CEO who reports directly to a committee of cardinals, and ultimately to the Pope. Since its assets are not considered property of the Holy See, it is not overseen by the Prefecture for the Economic Affairs of the Holy See, and it is listed in the Annuario Pontificio together with foundations such as the John Paul II Foundation for the Sahel, which provides funds for training people to fight drought and desertification in nine African countries. The current President is Ettore Gotti Tedeschi. The Institute was involved in a major political and financial scandal in the 1980s, concerning the 1982 $3.5 billion collapse of Banco Ambrosiano, of which it was a major share-holder.
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