Pope Francis has said the troubled Vatican
bank must become “honest and transparent” and that he will listen to
the advice of a commission he has set up on whether it can be reformed
or needs to be shut down altogether.
The pope made
his comments, his most detailed to date on the bank’s troubles, in his
first news conference, a remarkably frank 80-minute meeting with
reporters night shortly after his plane left Brazil at the end of his first international trip.
“I
don’t know what will become of the bank. Some say it is better that is a
bank, others that it should be a charitable fund and others say close
it,” he said.
The bank, formally known as the Institute
for Works of Religion (IOR), is the target of several investigations by
Italian magistrates on suspicion of money laundering.
“We
have to find the solution,” Francis said. “But whatever the solution,
it must have transparency and honesty. That’s the way it must be,” he
said.
Francis said he trusted those working at the
IOR and trying to clean it up as well as a five-member commission he
set up to advise him on the future of the bank, which has been the
source of embarrassment and scandal for the Church for decades.
The
comments came as the Vatican confirmed its Financial Information
Authority (AIF) had signed a memorandum of understanding with Italian
authorities over the exchange of financial information to combat money
laundering in line with international standards.
The Vatican has already signed similar agreements with other countries, including the United States but the latest move is significant because of the high volume of transactions that go through Italy.