Institute For The Works Of Religion
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Institute For The Works Of Religion
The Institute for the Works of Religion ( it, Istituto per le Opere di Religione; la, Institutum pro Operibus Religionis; abbreviated IOR), commonly known as the Vatican Bank, is a financial institution situated inside Vatican City and run by a Board of Superintendence which reports to a Commission of Cardinals and the Pope. It is not a private bank, as there are no owners or shareholders, but it has been established in the form of a juridical canonical foundation, pursuant to its Statutes. Since 9 July 2014, its President is Jean-Baptiste de Franssu. The IOR is regulated by the Vatican's financial supervisory body AIF (''Autorità di Informazione Finanziaria''). The Institute was founded by papal decree of Pope Pius XII in June 1942. In June 2012, the IOR gave a first presentation of its operations. In July 2013, the Institute launched its own website. On 1 October 2013 it also published its first-ever annual report. On 24 June 2013, Pope Francis created a special investigati ...
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Juridical Person
A juridical person is a non-human legal person that is not a single natural person but an organization recognized by law as a fictitious person such as a corporation, government agency, NGO or International (inter-governmental) Organization (such as United Nations). Other terms include artificial person, corporate person, judicial person, juridical entity, juridic person, or juristic person. A juridical person maintains certain duties and rights as enumerated under relevant laws. The rights and responsibilities of a juridical person are distinct from those of the natural persons constituting it. Since ancient times, associations have been known as the original form of the juridical person. This is documented for the 1st century A.D. for Jewish trading companies. In Roman law, too, the institution already had significance, although it was not called as such. Conceptually, it included institutions such as the state, communities, corporations (''universitates'') and their association ...
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Roberto Calvi
Roberto Calvi (13 April 1920 – 17 June 1982) was an Italian banker, dubbed "God's Banker" () by the press because of his close association with the Holy See. He was a native of Milan and was chairman of Banco Ambrosiano, which collapsed in one of Italy's biggest political scandals. Calvi's death in London in June 1982 is a source of enduring controversy and was ruled a murder after two coroners' inquests and an independent investigation. Five people were acquitted in Rome in June 2007 of murdering Calvi. Popular speculation has linked the Vatican Bank, the Mafia, and the clandestine Propaganda Due to his death. Life and career Roberto Calvi's father was the manager of the Banca Commerciale Italiana. Calvi joined the bank after World War II, but he moved to Banco Ambrosiano, then Italy's second largest bank, in 1947. He married in 1952 and had two children. Soon he became the personal assistant of Carlo Alessandro Canesi, a leading figure and later president of Banco Ambrosia ...
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Paul Marcinkus
Paul Casimir Marcinkus (; January 15, 1922 – February 20, 2006) was an American archbishop of the Roman Catholic Church and president of the Institute for the Works of Religion, commonly known as the Vatican Bank, from 1971 to 1989. Early life Marcinkus was born in Cicero, Illinois, the son of Lithuanian immigrants and the youngest of five children. His father worked as a window cleaner, among other occupations. After attending Archbishop Quigley Preparatory Seminary and St. Mary of the Lake Seminary, Paul was ordained to the priesthood for the Archdiocese of Chicago on May 3, 1947, and served parish assignments with both St. Christina's and Holy Cross Church on the city's south side. By 1949, he had been appointed to the archdiocese's matrimonial tribunal, which processed applications to have marriages annulled. International career In 1950, Marcinkus began to fulfil special assignments for the Vatican and became friendly with Cardinal Giovanni Battista Montini, later ...
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Banco Ambrosiano
Banco Ambrosiano was an Italian bank that collapsed in 1982. At the centre of the bank's failure was its chairman, Roberto Calvi, and his membership in the illegal former Masonic Lodge Propaganda Due (aka P2). The Vatican-based Institute for the Works of Religion, commonly known as the ''Vatican Bank'', was Banco Ambrosiano's main shareholder. The Vatican Bank was also accused of funnelling covert United States funds to the Polish trade union Solidarity and to the Nicaraguan Contras through Banco Ambrosiano. Members * Franco Ratti, chairman * Carlo Canesi, senior manager then chairman of Banco Ambrosiano Holding starting from 1965 * Roberto Calvi, general manager of Banco Ambrosiano since 1971, appointed chairman from 1975 to his death in June 1982; he was often referred to as "God's Banker" because of his close financial ties with the Vatican * Paul Marcinkus, president of Vatican Bank (aka ''"Istituto per le Opere di Religione"''), had been a director of Ambrosiano Overseas, ...
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