Courtesy visit to KCB Bank by the Deposit Protection Fund of Uganda – December 12, 2023
In the spirit of continuous engagement and collaboration with stakeholders and to complement its mandate of enhancing public awareness, the Chief Executive Officer of the Deposit Protection Fund of Uganda, Dr. Julia Clare Olima Oyet paid a courtesy visit to KCB Bank – Uganda on December 12, 2023. She was accompanied by the Director Communications – Mr. Patrick O. Ezaga and the Director Finance and Operations, Mr. Yusuf Mukiibi. The DPF delegation was received by KCB Bank’s top management team led by Mr. Edgar Byamah, the Managing Director.
In his submission, Mr. Yusuf Mukiibi noted that in execution of its mandate, the Fund required updated and complete depositor data if the need arose for a payout. He thus noted that it was incumbent on the Contributing Institution to ensure that their customers’ data was updated. He noted that the Fund had implemented the Deposit Payout and Premium Management System which would improve efficiency in premium management as well as ensuring that depositor payout was fast and timely if the occasion arose.
Mr. Patrick Ezaga appreciated KCB Bank for participating in the customer dip-stick surveys by the Fund, which he said were to help in improving the work methods between the Fund and the Contributing Institutions. He emphasized the need for appropriate display of DPF’s awareness materials such as posters and the requirement for all the Bank’s adverts to mention the fact that customer deposits are protected up to UGX 10 million. He explained the need to interlink the bank’s website to the DPF website and informed KCB Bank’s Management that the Fund was available to engage with its front-line staff, if called upon to do so, both physically and virtually.
On his part, Mr. Byamah welcomed the team and appreciated the DPF team for the visit. He noted that KCB Bank had benefited tremendously from the engagement and the insights shared between the two parties. He added that KCB Bank was committed to supporting and collaborating with the Fund on various efforts including ensuring compliance levels regarding the update of customer records.
