Institute for the Works of Religion

Common card · No. 227770

The Institute for the Works of Religion (Italian: Istituto per le Opere di Religione; Latin: Institutum pro Operibus Religionis; abbreviated IOR), commonly known as the Vatican Bank, is a financial institution that is situated inside Vatican City and run by a Board of Superintendence, which reports to a Commission of Cardinals and the Pope. It is not a private bank, as there are no owners or shareholders; it has been established in the form of a juridical canonical foundation, pursuant to its statutes. The IOR is regulated by the Vatican's financial supervisory authority, the Autorità di Supervisione e Informazione Finanziaria (ASIF). The Institute was founded in June 1942 by papal decree of Pope Pius XII. In June 2012, the IOR gave the first presentation of its operations. In July 2013, the Institute launched its own website. On 1 October 2013, it also published its first-ever annual report. On 24 June 2013, Pope Francis created a special investigative Pontifical Commission (CRIOR) to...

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