Troubled Vatican Bank to continue operating

Pope Francis has decided not to shut down the 'Istituto per le Opere di Religione',better known as the Vatican Bank, due to its financial commitments to the catholicchurches and state."The (bank) will continue to serve with prudence and provide specialized financialservices to the Catholic Church worldwide" according to a statement issued by theVatican on Monday.The bank has been mired in scandals in recent years, including money launderingand grafting activities, and was put under investigation by a commission PopeFrancis formed last year. During this time the Pope would also not rule outpermanently closing the bank if the allegations proved true.The statement also noted that the Pope did not take the decision to preserve thebank alone, but did so on the recommendations of the commission.