A bank or deposit-taking institution should be the most secure place to keep your money away from any risk. But from time to time, even these institutions fail, and the Central Bank must close them down to protect depositors money. Past experiences with closed banks, especially those closed in the 1990s left a bitter taste in many depositors’ mouths. Over time, the government has made efforts to enhance the safety of depositors’ money through the Deposit Protection Fund of Uganda (DPF). The DPF, as we know it today, was established as a legal entity following the enactment of the Financial…
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