The Vatican Bank better known to others as "The Institute for Works of Religion or the (IOR)is a privately held financial institution located inside Vatican City. Founded in 1942 after during WWII, their role has supposedly been to safeguard and administer property intended for the works of charity or religion.
In the Feb 11 1929 Lateran Treaty with Mussolini (The Kingdom of Italy)and the Holy See under Pope Pius XI, Cardinal Gasparri, they signed the Lateran accords, in which the church promised to squelch all Catholic opposition to fascist rule in exchange for preferential treatment and a sizeable cash settlement of 1 BILLION dollars. The Italian parliament ratified them on June 7 1929.
The treaty recognized Vatican City as an independent state under the sovereignty of the Holy See. The Italian government also agreed to give the Roman Catholic Church financial compensation for the loss of the Papal States. In 1948, the Lateran Treaty was recognized in the Constitution of Italy as regulating the relations between the state and the Catholic Church.[
In the Feb 11 1929 Lateran Treaty with Mussolini (The Kingdom of Italy)and the Holy See under Pope Pius XI, Cardinal Gasparri, they signed the Lateran accords, in which the church promised to squelch all Catholic opposition to fascist rule in exchange for preferential treatment and a sizeable cash settlement of 1 BILLION dollars. The Italian parliament ratified them on June 7 1929.
The treaty recognized Vatican City as an independent state under the sovereignty of the Holy See. The Italian government also agreed to give the Roman Catholic Church financial compensation for the loss of the Papal States. In 1948, the Lateran Treaty was recognized in the Constitution of Italy as regulating the relations between the state and the Catholic Church.[
