This fund is established in year 1981 as the ""Army Provident Fund" as a brain child of Brigaider S C Ranathunga and then Commander of the Army Major General JED Perera. Initially a trustee board consisting of 6 senior officers has appointed for the proper administration and financial control of this fund. The fund was renamed as "The Sri Lanka Army Benevolent Fund" in 1st January 1997. This fund was re-established as the Directorate of Army Benevolent Fund in year 2009. Originally, this fund was established for the purpose of Regular force welfare and subsequently, it was extended for the Volunteer force in year 1998.