The role of Maltese priest Mgr Alfred Xuereb in a Vatican Commission has been set in stone, a decree signed by Pope Francis stipulates.

 

The Institute for the Works of Religion Supervisory Commission of Cardinals is now composed of six members instead of five as was previously the case. The decision, which had already been announced in recent months, has now been formalised with a modification to the IOR statute made by way of a Rescriptum that was signed by Pope Francis last 10 January and published on Thursday by the institute, Vatican Insider reports.

In July, the Vatican had announced that a sixth cardinal would be joining the IOR's highest governing body led by Spanish cardinal Santos Abril y Castello. The man chosen was Zagreb's Josip Bozanic.

Mgr Alfred Xuereb's role as "non-voting Secretary General" to the IOR Board of Superintendence has also been formalised. Mgr.Xuereb is also Secretary of Cardinal George Pell's Secretariat for the Economy. 

The note issued Thursday  recalls that "the IOR is an institute founded on 27 June 1942 by Papal Decree... The purpose of the IOR is to serve the global mission of the Catholic Church by providing for the custody and administration of its customers' assets, and rendering dedicated worldwide payment services to its customers. The Institute's mission was confirmed by the Holy Father, Pope Francis, on 7 April 2014. The IOR operates from a single location - its headquarters in the Vatican City State -and is regulated by the "Autorità di Informazione Finanziaria" (AIF), the financial supervisory body for the Vatican City State, now headed by Tommaso Di Ruzza who was announced director yesterday. "

The IOR serves approximately 15,500 customers. As of 31 December 2013, the Institute was entrusted with customers' assets totalling EUR 5.9bn."