Tags: EU | REL | Vatican | Bank

2 Vatican Bank board Members Resign over Disagreements

Wednesday, 25 May 2016 01:14 PM EDT

VATICAN CITY (AP) — Two board members of the scandal-marred Vatican bank have resigned over disagreements about the management and mission of the institution.

Under Pope Francis, the Institute for Religious Works has sought to be less a profit-at-all cost investment vehicle for the church and more a service-oriented foundation that helps religious orders, in particular, and Vatican officials manage their money.

The Vatican said Wednesday that the resignation of Clemens Borsig and Carlo Salvatori from the bank's board "can be seen in light of legitimate reflections and opinions" about the management of such an unusual institution.

The IOR, as the bank is known, has been going through a years-long process to comply with international anti-money laundering norms after a series of scandals.

© Copyright 2026 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


Europe
Two board members of the scandal-marred Vatican bank have resigned over disagreements about the management and mission of the institution.Under Pope Francis, the Institute for Religious Works has sought to be less a profit-at-all cost investment vehicle for the church and...
EU,REL,Vatican,Bank
122
2016-14-25
Wednesday, 25 May 2016 01:14 PM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
 
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
© Newsmax Media, Inc.
All Rights Reserved