Vatican Bank

The Vatican Bank, officially known as the Institute for the Works of Religion (IOR), is a financial institution located within Vatican City. It was established in 1887 and serves to manage the funds and assets of the Catholic Church and various religious institutions. The primary purpose of the Vatican Bank is to support the activities of the Holy See and the Catholic Church globally, including charitable initiatives and ecclesiastical projects. The bank operates under the jurisdiction of the Vatican and is subject to its regulations and governance. It has historically been involved in various financial services, including managing deposits, providing investment services, and facilitating transactions for the Vatican and associated organizations. The Vatican Bank has faced scrutiny and controversy over its financial practices and transparency but remains a key institution in the financial management of the Catholic Church.