Francis renews mandate for Vatican bank oversight committee
Pope working to reshape image of troubled IOR15 January, 13:01
The Vatican bank, officially known as the Institute for Works of Religion (IOR), has come under scrutiny for alleged money laundering and is now working with the Council of Europe's Moneyval agency to bring it in line with international standards.
Vatican administrators have made significant progress, according the monitoring group of financial experts.
In a December report it said that it approved of the efforts made by the Vatican to bolster financial transparency within its institutions.
But it added that more work must be done.
Francis has not ruled out eventually getting rid of the Vatican bank altogether if reforms fail.