Catholic Bank Invests In Arms, Tobacco and Birth Control Pills

Catholic Bank Invests In Arms, Tobacco and Birth Control Pills

news.bbc.co.uk

A Roman Catholic bank in Germany has apologised after admitting it bought stocks in defence, tobacco and birth control companies. Pax Bank has previously advertised ethical investment funds, specifically claiming to avoid arms and tobacco companies along with organisations that do not adhere to Catholic beliefs.

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Related News Links:
www.spiegel.de
www.pax-bank.de

Well this does not come as a surprise for me, since Vatican is known to be one of the worlds biggest "investors" in certain "investments", which have a wide range. But there should be certain limits, since the Catholic bank does represent the Catholic church and it should not invest in areas, which they claim to be sinfull. Kind of hypocritical, but that would not be the first time when talking about organized religion. Well at least the "apologised"...

news.bbc.co.uk
(visit the link for the full news article)