The Economic Secretariat of the Holy See in the Vatican has released a document, which will come into force on September 1 next year, prohibiting any investment in sectors related to defense, weapons, pornographic materials and gambling, as well as investment in health care, which may include abortion or the development of embryonic stem cells.

The document also provides for greater centralization by transferring investment accounts or assets in the form of shares deposited in foreign banks to the Vatican Bank, which will be controlled by the property administration of the Holy See.

The announcement, aimed at strengthening oversight and limiting risky investments, comes as the Vatican has been going through a year-long trial in which about ten people, including a cardinal, are accused of embezzlement, abuse of power, money laundering, corruption and extortion.

In early June, the Vatican announced the creation of a commission tasked with overseeing ethical standards in real estate investment.