Vatican City, 7 April 2014 (VIS) –
The Holy Father has approved a proposal on the future of the Istituto
per le Opere di Religione (IOR), reaffirming the importance of the
IOR’s mission for the good of the Catholic Church, the Holy See and
the Vatican City State.
The proposal has been jointly developed
by representatives of the Pontifical Referring Commission to the IOR
(CRIOR), the Pontifical Commission for Reference on the Organization
of the Economic- Administrative Structure of the Holy See (COSEA),
the IOR’s Commission of Cardinals and the IOR Board of
Superintendence and presented to the Holy Father by the
Cardinal-Prefect for the Secretariat for the Economy with the consent
of Cardinal Santos Abril Y Castello, President of the IOR’s
Commission of Cardinals. It is drawn from information on the legal
status of the IOR and its operations gathered by and presented to the
Holy Father and his Council of Cardinals by CRIOR in February 2014.
The IOR will continue to serve with
prudence and provide specialized financial services to the Catholic
Church worldwide. The valuable services that can be offered by the
Institute assist the Holy Father in his mission as universal pastor
and also aid those institutions and individuals who collaborate with
him in his ministry.
With the confirmation of the IOR’s
mission and at the request of Cardinal-Prefect Pell, the President of
the Board of Superintendence, Ernst von Freyberg, and the management
of the IOR, will finalize their plan to ensure that the IOR can
fulfil its mission as part of the new financial structures of the
Holy See/Vatican City State. The plan will be presented to the Holy
Father’s Council of Cardinals and the Council for the Economy.
The activities of the IOR will continue
to fall under the regulatory supervision of AIF (Autorità di
Informazione Finanziaria), the competent authority within the Holy
See and Vatican City State. In compliance with Motu proprios of 8
August 2013 and 15 November 2013, as well as Law No XVIII on
transparency, supervision and financial information which came into
force on 8 October 2013, a comprehensive legal and institutional
framework has been introduced to regulate financial activities within
the Holy See and Vatican City State. In that respect, the
Cardinal-Prefect Pell has confirmed the importance of a sustainable
systematic alignment of the legal and regulatory framework of the
Holy See/Vatican City State with regulatory international best
practice. Strict regulatory supervision and improvements in
compliance, transparency and operations initiated in 2012 and
substantially accelerated in 2013 are critical for the Institute’s
future.
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