Pope caps reform of Vatican bank with new statutes

Financial Post | Aug 10, 2019 at 11:51 AM
  • Pope Francis has approved new statutes for the Vatican Bank, making an external audit obligatory and introducing other changes to bolster reforms that have turned around the once scandal-ridden institution.
  • The statutes, approved in a papal document released by the Vatican on Saturday, cap more than six years of changes at the bank since Francis was elected in 2013, since when he has made reform of the bank one of his priorities.
  • The new rules ban bank employees, nearly all of whom are non-clerics, from holding consultancies or other roles with outside institutions.