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Vatican Bank works toward transparency

May 17, 2012
Since 2010 the Vatican's Institute for Religious Works, commonly referred to as the Vatican Bank, has faced questions about its transparency and compliance with international banking laws.
Since then many concrete changes have been made, including the appointment of a new bank director, a new board of international experts to oversee the bank, and the signing of an agreement to adopt European Union anti-money laundering norms.
This week the Vatican Bank invited a group of 35 Ambassadors to the Holy See to visit the bank on a fact-finding visit. They were encouraged to ask questions about its policies and practices.
Vatican Radio's Philipa Hitchens spoke to the British Ambassador to the Holy See, Nigel Baker, about that visit and what it will take for the Vatican's bank to be seen as a safe banking institution.