Deposit Protection Fund wants policy review
Deposit Protection Fund Chief Executive Julia Clare Oyet says, time has come for the fund to have a review of the fund’s deposit insurance limit policy, in order to cater to the its growing needs and adapting to the current economic times. The fund’s policy review was last carried out in 2019 when the protection threshold was lifted from Shs3 million to the current 10 million. This comes at a time when the fund is in the process of paying more than a billion shillings to depositors of Mercantile Credit Bank which was closed by Bank of Uganda last week.
