MondayVatican
The members of the board of the Financial Information Authority (AIF), the Vatican’s financial watchdog, hailed all from Italy. Taking a decision which shows his wish to give the Holy See an international profile, Pope Francis replaced them all with international experts held in high regard. Among them, there is just one Italian, [...]
Pope Francis is seemingly putting on a new hat, an institutional one. At a time when conclusions are being drawn from the reform process started under Benedict XVI and continued by his successor, Pope Francis is counterbalancing the weight of external consultants who, one way or another, have featured prominently during the first months [...]
The Holy See path to adapt its legal system to international anti-money laundering standards has been quick, coherent and convincing, according to the «progress report» issued by the Council of Europe’s committee MONEYVAL on December 12.
«It is clear from this review – the report states in par. 128 – that much work [...]
The Church according to Pope Francis is outlined in the nearly 260 page-long Apostolic Exhortation «Evangelii Gaudium» (The Joy of the Gospel), that he wrote in two weeks in Spanish (with some neologisms and slogans) with a clear core message: the Church must come out, to the streets, and announce the Gospel [...]
The new statute of the Vatican Financial Information Authority (AIF) better aligns the Authority with new Vatican legislation, and with international standards. It also develops a new kind of Authority. Conceived by the drafter of the first Vatican money laundering law as a sort of «monocratic» authority (a Vatican dicastery presided by a [...]
A screening of the IOR accounts is “ongoing”, according to René Bruelhart, director of the Vatican Authority for Financial Information (AIF). Bruelhart also underlines that a reform of the oversight on Vatican finances is in process as well. One of the pillars of this reform will be preventive supervision – as requested by the [...]
How much money is there in the so-called «Vatican bank», the Institute for Religious Works (IOR) and how is it invested and used? Soon, this information will be in the public domain. The IOR will have an internet website, where its annual balance sheet will be posted. Although the IOR is a [...]
Benedict XVI will be like a Moses for the Church. Moses went to a mountain and interceded for the People of Israel while the latter were combating against Amalek. So will the Pope do after his retirement – the President of Pontifical Council for Culture, Card. Gianfranco Ravasi, said in a Lent meditation [...]
René Bruelhart is the new director of the Authority for Financial Information (AIF). It is a significant appointment –it shows that the Holy See is moving towards full adherence to international transparency standards. MONEYVAL’s Plenary Assembly – the body of the Council of Europe that evaluates if its member states are meeting [...]
In order to understand the path the Holy See began and is staying on to achieve full -international financial transparency, one should look beyond the seven negative ratings (out of 16 core and key recommendations to combat money laundering) and beyond the 23 negative ratings on the general recommendations (out of 45, [...]
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