Vatican Finance Reform Continues

Rene Brulhart, director of Vatican's Financial Intelligence Authority (CNS photo/Massimiliano Migliorato, Catholic Press Photo)

Efforts to reform and professionalize Vatican financial services and oversight continued as Pope Francis dismissed the all-Italian five-member board that oversees the Vatican’s financial watchdog agency on June 5, in a move widely interpreted as a blow to the Vatican old guard. According to a Vatican statement, the pope named five experts from Switzerland, Singapore, the United States and Italy to replace those who were removed from the board of the Financial Information Authority (A.I.F.), the Holy See’s internal regulatory agency. The five outgoing members had been expected to serve five-year terms ending in 2016. The sole American on the new board is Juan Zarate, a senior adviser at the Center for Strategic and International Studies and visiting lecturer at Harvard Law School. The pope has taken a hard line on cleaning up the Vatican finance system. According to a report by the Italian news agency ANSA, two senior officials at the bank have also been eased into early retirement after reports by two separate ad hoc committees appointed by Francis to study Vatican finances.

Comments are automatically closed two weeks after an article's initial publication. See our comments policy for more.
Dan Hannula
4 years 6 months ago
Why doesn't his Holiness go all the way and make the bank part of history like the Army of the Papal States?

Advertisement
Advertisement

The latest from america

Pope Francis has suppressed the Ecclesia Dei Commission, a significant decision with consequences for the Holy See’s relations with the priestly Fraternity of St. Pius X.
Gerard O’ConnellJanuary 19, 2019
Photo: IMDB
A new Netflix miniseries brings out the story’s aspects of adventure and conflict, with occasionally pulse-pounding results.
Rob Weinert-KendtJanuary 19, 2019
Protestors march to support a U.N. anti-corruption commission in Guatemala City on Jan. 6. Photo by Jackie McVicar.
“What they are doing not only puts Guatemala at risk but the entire region. Bit by bit, for more than a year, they have been trying to divide us. The elections are at risk. We are six months away.”
Jackie McVicarJanuary 18, 2019
“We will just do what we need to do to help people in need,” said Antonio Fernandez, C.E.O. of Catholic Charities for the Archdiocese of San Antonio.
Emma Winters January 18, 2019