A new constitution was adopted, ushering in an era of change. The AIBA Independent Governance Reform Group, spearheaded by Professor Ulrich Haas, was established, and István Kovács assumed the role of General Secretary.

The preceding decade had left the international boxing body in shambles — burdened by staggering multi-million-dollar debts, entangled in a web of corruption and mismanagement, devoid of unity, and plagued by persistent issues. 

A thorough investigation by independent experts uncovered the roots of mismanagement and corruption, holding former President CK Wu accountable for the association's woes. The IBA Congress declared him persona non-grata, paving the way for a much-needed cleansing of past mistakes to pave the path toward a prosperous future.

In the three years of President Umar Kremlev's tenure, financial woes were successfully addressed, marking a pivotal turning point for the IBA. However, let's delve into the notable changes that have unfolded during this period.

By 2021, AIBA had eradicated all debts, including a substantial $10 million owed to Benkons LLC. Agreements were inked with the international military sports council CISM and the International Testing Agency (ITA). 

That same year, AIBA's National Federations implemented constitutional amendments, culminating in a change to the abbreviated name to the IBA.

Under the dynamic new leadership, five committees were established, each addressing crucial facets of the sport. The IBA reforms expanded the number of weight categories for men and women to 13 and 12, respectively. 

World Championship prize money was set at $100,000 for gold, $50,000 for silver, and $25,000 for both bronze medals. 

Additionally, a financial assistance program for national federations was introduced, fostering the participation of boxers in major IBA events and contributing to their success.

Further in november IBA signed a cooperation agreement with WBA (World Boxing Association). 

IBA has since announced 16 Champions' Nights for 2024, with the Women's World Boxing Championships set to take place in Astana, Kazakhstan, featuring a substantial $4.8 million prize money fund. Plans for the men's event include a $10.4 million purse.

‘IBA has become the true Home of Boxing, and it is what makes me proud the most. Within IBA, athletes and coaches feel secure and can fulfill their dreams by competing at the highest level and achieving their best results in the ring.’ states IBA President Umar Kremlev.

As the history of boxing unfolds, it continues to captivate sports fans worldwide. May this beloved sport endure as a major player in the international arena, garnering increasing engagement and enthusiasm.

However, some negative aspects have also followed IBA during recent years. 

In May 2022, just one day before the elections, the IBA Nomination Unit scandalously excluded a single alternative of incumbent Boris van der Vorst from the new elections, and Kremlev was elected  at the IBA Congress in Istanbul. Later, the Court of Arbitration for Sport (CAS) annulled  Van der Vorst's exclusion from the elections, but the IBA Congress held in September 2023 in Yerevan decided not to hold new elections despite CAS' decision. Thus, Kremlev maintains his position till 2026 without competitive elections. 

In October of 2022 after IBA canceled an IOC-imposed ban on boxers from Russia and Belarus in response to the war in Ukraine, boxing federations of Ukraine, USA, Ireland, Canada, England, Sweden, Czech Republic, Netherlands and New Zealand also announced that they would boycott IBA events with Russian or Belarusian boxers. 

A number of boxing federations unhappy with the IBA policy under Kremlev's leadership decided to establish an alternative international boxing organization seeking recognition from the IOC. 

Thus appeared World Boxing led by officials including GB Boxing chief executive Matthew Holt, USA Boxing President Tyson Lee and former IBA Presidential candidate Boris van der Vorst of The Netherlands who were disgruntled at the direction of the IBA. 

Boris van der Vorst has been recently elected as president of World Boxing. While IBA keeps with a membership of 187 federations internationally, World Boxing has 27 members. 

On 22 June 2023, the IOC withdrew the Olympic recognition of the IBA, and the IBA lost its status of the Olympic international federation. Inclusion of boxing into the programme of the Los Angeles Games 2028 is questionable. 

IBA appealed to the CAS against the IOC decision, and the result of its appeal is expected in 2024.