The World Academy of Arts, Literature, and Media - WAALM, was established by Drs Mr. and Mrs. Dorbayani as one of the divisions of IFSI Institute in Hungary in February 2005 in order to support, develop and promote Dramatic and Fine Arts, Creative Writing, Poetry, and Literature as well as Professional Journalism and Media Productions.

In 2008 WAALM became an independent non-for-profit oranisation.

The first WAALM Awards was conducted in Budapest on October 29, 2005 through which 25 Artists and Scholars were honored. The 2nd awarding ceremony took place on 27 October 2006 with participants from 15 different nationalities and 25 awardees were honored. The 3rd WAALM Awards was contacted in London, England on 31 Oct 2008 with participation of 11 nationalities, several high level officials and diplomats.

The current number of Awardees from WAALM Academy reached the total of 87 in 2008.