News Column

Vatican Bank Chief to Step down amid Restructure

July 9, 2014

TEHRAN (FNA)- Vatican authorities announced on Wednesday that the president and four non-executive members of the governing board of the Vatican bank were due to step down.

The move is part of a restructure of the Catholic Church's central government, BBC reported. Pope Francis has sought to stamp out corruption and other abuses at the bank, which handles the Church's funds. The news comes after the bank said its profit fell to 2.9m euros (Â2.3m) in 2013, down from 86.6m euros in 2012. Attempts to create a more transparent banking system for the Catholic Church, begun by Pope Benedict after allegations made that the Vatican bank had been used by money launderers, will continue under new management. Â Â Â Â

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Source: FARS News Agency

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