Vatican Bank
But when pope francis was elected in 2013 it was.
Vatican bank. In an exclusive oct. This is a private institute which is located within vatican city and it is run by an advisory board who gives report directly to the pope and a committee of cardinals. Vatican bank was a class action suit by holocaust survivors against the institute for the works of religion filed in san francisco california on 15 november 1999.
The vatican s overall patrimony blooms to 4 billion euros 4 7 billion when taking into account the cash cow of the vatican museums the vatican bank and other sources of assets and funds. The vatican s official bank has faced repeated crises since it was founded in 1942 and the bank itself was created to curtail fiscal irregularity. 25 interview with crux jean baptiste de franssu the french president of the institute for the works of religion better known as the vatican bank insisted that.
The vatican bank was established in june 1942 by pope pius xii.