Starting from January 2022, IFS covers all costs with its own funds

IFS was established by the Central Bank of the Republic of Armenia under the direct auspices of the latter. The Central Bank of Armenia undertook the mission of creating and establishing IFS for a period of 5 years, after which it was envisaged that IFS would become a self-financing independent structure.

During the establishment phase, the Central Bank of the Republic of Armenia also undertook the work of IFS. Employees from different departments of the Central bank voluntarily worked for IFS mission, made compensation decisions, invested in infrastructure, and raised funds. An average of 45 cases were served annually.

The 44-day war was a turning point in the history of IFS. There was a big gap between the fund's assets and liabilities. Apart from financial problems, it was no longer possible to make thousands of compensations on voluntary basis. Taking into account the enormous work load, there was a need to create a professional team that would implement the difficult and responsible work.

Now our small team carries out IFS mission to stand by the disabled soldiers or the families who lost their loved ones to war.

On December 29, 2020, special amendment was made to the law regulating IFS according to which IFS would become a self-financed institution within the framework of the budget approved by the Independent Board of Trustees. The budget should not exceed 2% of IFS assets of the previous year.