Follow usTwitterFacebook

Latest

26 Sep 2016 News Comments (1)

Vatican issues new rules for medical panel that judges miracles

Medical experts will no longer be paid in cash and a two-thirds majority will be required to approve miracles In an effort to ensure transparency as well as hi…

Read more

01 Nov 2014 Articles No comments

Ossuary of James - II: Bad Aramaic Made Easy

Written By Jimmy Akin In 2002 a unique archaeological find was announced: a limestone ossuary (bone box) that may have held the remains of James the “brother” …

Read more

12 Sep 2015 Europe News No comments

Cardinal Marx: Pope's annulment reforms don't go far enough

The president of the German bishops' conference has said that the reform introduced in the annulment process by Pope Francis this week "does not solve the funda…

Read more

03 Nov 2014 Q&A Comments (1)

Natural Family Planning - Serious Motives

If, then, there are serious motives to space out births, which derive from the physical or psychological conditions of husband and wife, or from external …

Read more

07 Sep 2016 Uncategorized No comments

‘God’s mercy is for all,’ Pope tells general audience

Pope Francis tells pilgrims not to put limits on the scope of Christ's mercy God did not send his son into the world to cast off the wicked but to offer them a…

Read more

23 Jul 2016 Articles Comments (2)

Why the Crusaders Went

This post is the third in a series about the most prevalent modern myths about the Crusades and how to refute them. Anna Comnena was the thirteen-year-old da…

Read more

02 Sep 2015 News Vatican No comments

Pope's prayer intentions for September 2015

The Vatican has released the prayer intentions of Pope Francis for September 2015. The Pope’s universal intention is: “That opportunities for education and e…

Read more

03 Apr 2015 Q&A No comments

Is it proper to ask publicly for the prayers of a deceased person who is not beatified?

Full Question At a local Catholic school in Baltimore, Maryland, the prayer always ends with "James Cardinal Gibbons, pray for us." Is it proper to invoke …

Read more

03 Aug 2016 News No comments

The Olympics bring us together as ‘one human family’, says Pope

Pope Francis tells general audience that the Olympics brings down barriers between people from different backgrounds A more important prize than a gold medal i…

Read more
  • 1
  • 2
  • 3
«
»

Two New Members Appointed to Board of the Vatican Bank

The Commission of Cardinals for the Institute for the Works of Religion (IOR), popularly known as the Vatican Bank, has appointed Mauricio Larrain (Chile) and Carlo Salvatori (Italy) as members of the IOR Board of Superintendence, according to a press release published by the Institute today.
On the occasion of the nomination Cardinal Santos Abril y Castello, President of the IOR’s Supervisory Commission of Cardinals, said: “The IOR is looking forward to working with these two new board members who will add significant financial experience and global perspective at a time when the role of IOR is being reinforced and confirmed to meet the objectives of the Holy Father.” With these appointments, the IOR Board of Superintendence is now complete. Besides Mauricio Larrain and Carlo Salvatori, it is composed of Mr. Jean-Baptiste de Franssu (France), President of the Board, Mr. Clemens Boersig (Germany), Prof. Mary Ann Glendon (USA) and Sir Michael Hintze (UK), who assumed office on 9 July 2014. In addition to these six lay members of the Board, Monsignor Alfred Xuereb, Secretary-General of the Secretariat for the Economy, serves as its non-voting Secretary.

As set out in the Institute’s revised Statute from 1990, the IOR Board of Superintendence defines strategy and ensures oversight of operations. The members of the Board of Superintendence are nominated in accordance with the new legal framework and for a period of five years. The nomination of a non-voting Secretary and a sixth member to the IOR Board of Superintendence as well as the nomination of a sixth member to the IOR Cardinals’ Commission will be formalised upon completion of the current review of the Institute’s Statute.

Mauricio Larrain is external director of Santander Bank Group Chile and general director of the ESE Business School from the Los Andes University of Chile. He served as the Santander Bank Group Chile’s Chairman and General Director from 1992 until 2014 and was president of Santander Chile Holding S.A. And Universita Chile S.A. from 2000 until 2014. During this period, Santander Bank Group Chile was chosen as the Best Bank in Latin America in six different years by the America Economia Magazine.

Carlo Salvatori has served as president of the investment bank Lazard Italy since June 2010 and of the insurance company Allianz SpA since May 2012. Furthermore, he is a member of the Board of Directors of the Sacred Heart Catholic University, of the Bambino Gesu Children’s Hospital, of Chiesi Pharmaceuticals and of the Riso Gallo Group and he also is President of the Christian Union of Business Executives’ Milanese section.

The Institute for the Works of Religion (IOR) was founded on 27 June, 1942, by papal decree to serve the Holy See and its customers in the Catholic Church all over the world. Its origins date back to the “Commissione ad Pias Causas” established in 1887 by Pope Leo XIII. The IOR’s purpose is set by its Statute, amended by Pope John Paul II in 1990, and related by-laws. It is “to provide for the custody and administration of goods transferred or entrusted to the Institute by physical or juridical persons, designated for religious works or charity. The Institute can accept deposits of assets from entities or persons of the Holy See and of the Vatican City State”.

The IOR says it strives to serve the global mission of the Catholic Church by protecting and increasing the patrimony of and providing worldwide payment services to the Holy See and related entities, religious orders, other Catholic institutions, clergy, employees of the Holy See and the accredited diplomatic corps.

As of 31 December 2013, the IOR was entrusted with customers’ assets (including deposits, assets held in custody and assets held under portfolio management agreements) totalling EUR 5.9bn, and shareholders’ equity of EUR 720m. The IOR is situated exclusively on the sovereign territory of the Vatican City State, and is supervised and regulated by the “Autorità di Informazione Finanziaria” (AIF), the financial supervisory body for the Vatican City State.










1 comment

  1. Joseph Reply

    Long leave Pope Francis, May God Bless him with good health and Mind.

Leave a Reply

  1. most read post
  2. Most Commented
  3. Choose Categories