Vatican Bank

Vatican Bank (The Institute for Works of Religion or Istituto per le Opere di Religione), is a privately held institute located inside Vatican City run by a professional bank CEO who reports directly to a committee of cardinals, and ultimately to the Pope. The Bank manages approximately €6 billion and boasts 25 thousand clients. Nevertheless, the Vatican Bank is the most secret bank in the World.

Since its assets are not considered property of the Holy See, it is not overseen by the Prefecture for the Economic Affairs of the Holy See, and it is listed in the Annuario Pontificio together with foundations such as the John Paul II Foundation for the Sahel, which provides funds for training people to fight drought and desertification in nine African countries.

HQ: Vatican City, Italy
Founded: 1942
ID: 1222. Updated: 30.07.2019